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Commodity News Details
Precious Metals Preview: COMEX gold edges high in early Asia
07-Aug-2025 09:22

COMEX gold futures are edging up near a two-week high on Thursday tracking sustained weakness in dollar overseas. The dollar index was trading close to 98 mark awaiting further developments surrounding the next US Federal Reserve (Fed) Chairman. US President Donald Trump announced on Tuesday that he will appoint the Fed's Chair and Kugler's replacement by the end of the week. Meanwhile, weaker-than-expected US Nonfarm Payrolls (NFP) report for July pointed to a cooling labor market and boosted expectations that the US Federal Reserve (Fed) will deliver a 25 basis point rate cut in September, supporting the yellow metal which is currently quoting at $3441.20 an ounce, up 0.26% on the day.

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