Precious Metals Preview: COMEX gold sees mild uptick from two-week low

COMEX gold is steadying near a two-week low on Tuesday morning in Asia amid improving bets of a Federal rate hike. Rising oil prices on renewed signs of conflict between the two nations is fueling inflation concerns and reaffirming Federal stance of a possible rate hike. Chair Warsh said last week that the Fed would ?have work to do? without clearer evidence that inflation is moving back toward its 2% target. US ISM Manufacturing PMI and JOLTS Job Openings due later today will be closely watched. The yellow metal is currently quoting at $4489.40 an ounce, up 0.18% on the day. Silver futures are up 0.73% at 67.48 an ounce.

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