Mumbai, Aug. 31 -- COMEX gold slipped to a near two-week low on Monday morning in Asia as renewed escalation in conflict between US and Iran drove oil prices higher, adding to inflationary concerns and thereby weighing on precious metals. Meanwhile, hawkish remark from Federal Reserve (Fed) Chair Kevin Warsh is also putting pressure on the yellow metal. Warsh said on Friday at the Jackson Hole symposium that policymakers will "have work to do" if they were not confident cost-of-living pressures were easing for Americans. The counter is currently quoting under $4500 mark and silver in down around 1.5% at $66.81 per ounce.
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