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Commodity News Details
Precious Metals Preview: Gold futures rebound to 2-week high
05-Aug-2025 09:12

COMEX gold is rebounding near a two week high at $3427.00 an ounce on Tuesday morning in Asia amid growing expectations of a US federal rate cut following weak labour market data. Meanwhile, with Fed's independence seen at stake amid Fed Governor Adriana Kugler's unexpected resignation has provided US President Donald Trump an earlier-than-anticipated opportunity to influence the central bank. Weakness in dollar under 99 mark is also keeping the precious metal supported. Investors await the release of the US ISM Services Purchasing Managers Index (PMI) later on Tuesday for fresh impetus.

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