COMEX gold and silver futures recovered on Friday morning in Asia, aided by sharp pull back in dollar index overnight as ECB sounded hawkish on interest rates amid inflation worries. The European Central Bank’s (ECB) interest rate decision left them on hold at 2.00%, the refinancing rate at 2.15%, and the marginal lending rate at 2.40% as it warned about the upside risks that the Middle East war will pose to inflation worldwide. Bank of Japan and Bank of England also kept policy rates unchanged. DXY retreated well below 100 mark and is currently quoting at 99.22 this morning and is on track to lose about 1.2% this week. The Federal Reserve also held rates steady on Wednesday, with Chair Jerome Powell stressing that officials need to see progress in reducing inflation before resuming rate cuts. Meanwhile, ongoing geopolitical tensions in Middle East are also supporting the yellow metal. Currently, gold is up around 3% at $4730.10 an ounce. Silver jumped over 4% above $74 mark.