Bullion prices inch lower ahead of US data

New Delhi: Gold price fell by Rs70 to Rs60,050 per 10 gram in the national capital on Wednesday amid a decline in rates of the precious metal overseas, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs60,120 per 10 gram. Silver also tumbled Rs400 to Rs73,600 per kilogram. In the global markets, gold was trading lower at $1,929 per ounce while silver was up at $23.84 per ounce. “Gold prices are stuck in a lower range as investors await US inflation data for July to be released on Thursday for further cues on the Fed’s monetary policy path,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.