Precious Metals Preview: COMEX gold slips under $4300 mark; silver slides over 3.5% as oil regains momentum

COMEX gold and silver futures slumped in early Asian trades on Monday as oil regained positive bias amid Middle East jitters. Stalled negotiations between the United States (US) and Iran keep oil prices elevated, reinforcing expectations that the Federal Reserve (Fed) will implement further monetary tightening to curb persistent inflation. Market sentiment remains heavily tied to the region following US President Donald Trump?s rejection of Iran?s latest proposal to reopen the Strait of Hormuz, where he stated Tehran had overplayed its hand, though he noted discussions are expected to resume this week. Currently, the yellow metal is quoting under $4300 mark at $4232.40 an ounce, down 2% on the day while silver is down over 3.5% at $62.48 per ounce.

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