Precious Metals Preview: COMEX gold climbs to over two-month high

COMEX gold climbed to its highest level in over two months on Tuesday morning in Asia amid reduced bets of a Federal rate hike although inflation stemming from renewed geopolitical concerns continue to weigh. A weak US jobs report released last Friday pointed to signs of a cooling labor market, undermining the case for the US Federal Reserve (Fed) to raise interest rates and driving flows towards the non-yielding bullion. The yellow metal climbed to its highest level since first week of June and is currently seen quoting at $4487 an ounce, up 1.5% on the day. Silver is also up 1.7% at $66.42 per ounce.

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