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Commodity News Details
Precious Metals Preview: COMEX gold pulls back from 2-week high
07-May-2025 08:58

COMEX gold is seen losing momentum from a two week high on Wednesday morning in Asia amid renewed hopes of retreating US- China trade tensions. The global risk sentiment gets a strong boost following the announcement of the US-China trade talks in Switzerland this week. Optimism surrounding trade talks also boosted dollar overseas, dampening demand for the yellow metal. The dollar index that measures the greenback against a basket of currencies is up 0.30% on the day at 99.36. Investors keenly await the Federal Reserve's decision later this Wednesday. Meanwhile, COMEX gold is currently seen quoting at $3392.70 an ounce, down almost 1% on the day.

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