Precious Metals Preview: COMEX gold and silver seen supported by sharp decline in oil prices
Mumbai, July 27 -- COMEX gold and silver futures are holding in positive on Monday morning in Asia amid slight pull back in dollar index. Sharp decline in oil prices that typically ease inflation fears and reduce bets of Fed rate hikes are seen supporting gains in the precious metals. The yield on the US 10-year Treasury note also fell to around 4.64% on Monday, pulling back from six-month highs as oil prices dropped following a pause in hostilities between the US and Iran over the weekend. The US reportedly suspended its nearly two-week campaign of strikes against Iran beginning late Friday without an official announcement, while Tehran said it had ended its retaliatory military operations and held discussions with Oman over the Strait of ...
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