Precious Metals Preview: COMEX gold and silver futures pull back from recent highs

Precious metals came under pressure in early Asia on Tuesday although it holds around a two-month high. Gold and silver futures are pulling back from recent highs. Fading expectations for a Federal Reserve rate hike following a string of weak US economic data was weighing o dollar and keeping the counter elevated. Investors are now awaiting the minutes of the Fed?s July meeting and comments from Chairman Kevin Warsh at the annual Jackson Hole symposium for further clues on the policy outlook. Currently, COMEX gold is trading at $4448 an ounce, lower by around half a percent on the day. Silver futures were down 1.35% at $65.33 an ounce.

Powered by Commodity Insights