COMEX gold futures are seen pressured near a one-week low tracking sharply firm dollar overseas. DXY strengthened well past 99 mark, an over three month high on Monday morning in Asia amid safe haven demand on escalating tensions in the Middle East. Mounting concerns that a prolonged Middle East conflict could lead to longer-term disruption of global energy supplies has benefited the greenback. The yellow metal slipped over 1% and is currently quoting at $5098.90 an ounce this morning. Oil is up more than $114 per barrel, a three and half year high, adding to inflationary concerns and complicating the Federal Reserve’s policy outlook, reinforcing expectations that rate cuts may be delayed.