Gold futures settled slightly lower on Wednesday as investors cautiously awaited for the monthly US consumer price index to be out later in the day. The US inflation data is treated as a gauge on monetary policy stance of Federal Reserve. The yellow metal also retreated as on technical correction after Tuesday’s highest monthly gain of 2.1%. However, weaker dollar capped some losses in the greenback denominated bullion.
Gold futures for December declined by $2.3 or 0.1% to settle at $1713.70 ounce on the Comex division of the New York Mercantile. However, spot gold rose by $3 or 0.18% or $ 1,709.74 per ounce.