COMEX gold remained above a three-month high on Monday morning in Asia, supported by a subdued dollar as a sharp rise in US Treasury yields raised concerns over the country’s growing debt burden.

Investors are also keeping a close watch on developments in the Middle East, with the US expected to announce new sanctions against Tehran. Further escalation could disrupt oil supplies and push energy prices higher, adding to inflationary concerns.

Market attention will now turn to the July PCE inflation data and Fed Chair Warsh’s Jackson Hole speech for fresh signals on the US interest-rate outlook.

Gold was last quoted at $4,705.10 an ounce, while silver futures were down more than 0.5% at $69.17 an ounce.