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Precious Metals Preview: Firm dollar amid hawkish Federal stance weighs on precious metals
23-Jun-2026 08:49

COMEX gold and silver futures pulled back further in early Asian trades on Tuesday as dollar stands tall amid growing consensus of a Federal rate hike. The dollar index that measures the greenback against a basket of currencies is quoting at 100.83, its highest level in 13-months. Markets are now looking forward to US PCE data which contains the Fed's preferred inflation gauge for further clarity. Meanwhile, US Vice President JD Vance has reportedly noted that negotiations have made great progress, despite some underlying friction which could limit downside in the counters as progress in ongoing peace talks between the US and Iran help ease concerns about inflation. Currently, COMEX gold is quoting lower by over 1% at $4152.30 an ounce and silver futures are trading lower by 3.5% at $62.99 per ounce.

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