Precious Metals Preview: COMEX silver struggles near 11-month low

COMEX gold lingers around a three-month low on Tuesday morning in Asia ahead of the Federal Reserve?s policy decision. Silver is trading near an 11-month low under $54 per ounce, as elevated energy prices keep inflation risks in focus, sustaining expectations for further monetary tightening. Crude oil prices have declined amid renewed diplomatic efforts to defuse US-Iran tensions, which has helped ease near-term inflation concerns. Currently, the yellow metal is quoting at $4032.10 an ounce, down 0.16% on the day while silver is down nearly 1% at $53.82 per ounce.

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