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Precious Metals Preview: COMEX gold slips below $3300 mark
28-May-2025 09:10

Dollar strength overseas capped gains in COMEX gold futures that slipped for the second consecutive session and dropped below $3300 mark. Improving risk sentiment after US President decision to delay tariffs on European Union goods weighed on the safe haven commodity. The dollar index surged well above 99.50 mark. Growing fiscal deficit in the United States, which prompted Moody's to downgrade US government debt from AAA to AA1 could limit any sharp losses in the yellow metal that is currently quoting at $3292.10 an ounce, down 0.25% on the day. Investors will eye the Federal Reserve's (Fed) last meeting minutes, the second estimate for Gross Domestic Product (GDP) in Q1 2025, and the Fed's Core Personal Consumption Expenditures (PCE) Price Index during the week ahead.

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