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Precious Metals Preview: COMEX gold pulls back from 2-week high
01-Jun-2026 08:10

COMEX gold is witnessing a setback in morning trades on Monday tracking strength in dollar overseas amid uncertainty surrounding a peace deal between US and Iran. Lack of clarity on war stance is adding to a spike in international oil prices this morning, triggering inflation concerns and denting overall sentiments. The DXY is holding above 99 mark and the yellow metal is currently quoting lower at $4564.90 an ounce, pulling back from a two-week high. Gold futures saw persistent selling pressure linked to higher oil prices and tighter monetary policy expectations in last few weeks. Indian demand trends will also be under scanned following the recent import duty hikes and sustained weakness in the Indian Rupee.

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