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Precious Metals Preview: COMEX gold and silver futures stay supported ahead of US CPI report
12-Aug-2026 09:36

COMEX gold futures extend upside on Wednesday morning in Asia with all eyes glued to upcoming US consumer price data that could provide fresh clues on the Federal Reserve's policy outlook. Gold also drew support from investment demand and central bank purchases, particularly from China. China's central bank added about 20 tons to its reserves in July after buying around 15 tons in June, marking the largest monthly increase since October 2023, as per reports. However, persistent geopolitical tensions are likely to keep dollar supported and limit sharp upside in the precious metals. Currently, the yellow metal is quoting at $4462.20 an ounce, up half a percent in the day while silver futures are up over 1% at $65.59 per ounce.

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