Precious Metals Preview: COMEX gold and silver stay pinned near one-year low

Precious metals give back yesterday?s gains and trading lower in early Asia as market participants are monitoring the US midterm elections, where the Trump administration and the Republican Party face growing political scrutiny over elevated energy prices and inflation concerns. Recent ongoing Middle East hostilities drove up energy costs and amplified inflationary risks, adding pressure on gold and silver prices. Silver prices remain pinned near an 11-month low of $49.98 per ounce, while the yellow metal is unable to recover above $4K an ounce mark.

Powered by Commodity Insights