COMEX gold edged lower on Friday morning in Asia, pressured by firm dollar overseas amid ongoing conflicts in Middle East. Fears of rising inflation amid oil disruption is keeping dollar elevated. Oil is seen rising around $100 per barrel due to the effective closure of the Strait of Hormuz amid conflict involving the United States (US), Israel, and Iran. DXY hovering around two-month high is seen weighing on the yellow metal which is managing to hold above $5100 mark. Currently, the counter is quoting at $5115.80 an ounce, down 0.23% on the day. Silver, meanwhile is lingering under $85/ounce mark. Powered by Commodity Insights |