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“The current bear market has been entirely valuation-driven rather than the result of reduced earnings estimates,” he added.

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Gold was up on Monday morning in Asia as the U.S. dollar weakened on growth fears.

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Precious metals to remain under pressure amid looming interest rate hike..

Gold and silver prices will remain under pressure in today’s session. The yellow metal has support at $1796-1785, while resistance is at $1818-1828, said Rahul Kalantri, VP Commodities at Mehta Equities.

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West Texas Intermediate traded below $106 a barrel after tumbling on Thursday as commodities were pummeled. The US benchmark has shed more than 1% this week despite signs that the physical crude market remains tight.

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