Bullion prices flat ahead of US data

New Delhi: Gold price declined by Rs100 to Rs59,600 per 10 gram in the national capital on Wednesday amid a fall in prices of the precious metal globally, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs59,700 per 10 gram. However, silver prices rose by Rs200 to Rs73,100 per kilogram.

In the overseas market, gold was trading lower at $1,904 per ounce, while silver was up at $22.70 per ounce. Gold prices drifted lower to linger around the support of $1,900 after better-than-expected US economic data further dented gold’s investment appeal,” saud Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas. “Investors are now awaiting the release of the minutes of the US Fed’s July meeting, due later on Wednesday, which may reveal the central bank’s willingness to raise interest rates,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.