Precious Metals Preview: COMEX gold and silver jump amid a notable pull back in dollar

COMEX gold jumped on Thursday tracking notable pull back in dollar overseas as oil halted recent rally on signs of easing geo-political concerns. President Trump said the latest attacks on Iran would be short-lived, easing inflation concerns and reducing safe-haven demand for the greenback. New York Fed Bank President John Williams reportedly said there is evidence that inflation continues to ease as the impact of tariffs fades, while higher energy prices have yet to spill over into other services. Meanwhile, data from US showed private employment growth slowed in August. Markets however wait for the release of the crucial US Nonfarm Payrolls (NFP) report on Friday, which will be looked at for more cues about the Fed's future policy path. The yellow metal is currently quoting at $4475 per ounce, up 1.29% on the day and silver futures are hovering at $66.63 an ounce, up 1.62% on the day.

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