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Precious Metals Preview: COMEX gold and silver advance amid weakness in dollar and easing oil prices
03-Aug-2026 09:51

COMEX gold and silver both advanced on Monday morning in Asia tracking sustained weakness in dollar overseas. The dollar index fell as the Japanese yen surged up to 1.4% to reach a three-month high of 155.20 per dollar. This sharp drop follows reports that Japan and the U.S. conducted coordinated operations, with reports indicating massive dollar-selling to support the yen. Besides, President Donald Trump said peace talks with Iran will resume today, sending oil prices lower and easing concerns over inflation and the interest rate outlook. Investors now turn their focus to Friday's closely watched monthly jobs report. The yellow metal is currently seen trading at $4121 an ounce while silver is up over 1% at 58.48.

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