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Gold prices edged lower on Wednesday, pressured by a stronger dollar and a rise in bond yields, while investors cautiously looked forward to U.S. inflation data that could influence the federal Reserve’s timeline to taper monetary support.

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Gold Price Today: Yellow metal trades flat, experts say crucial support at 47,700

Gold was trading falt in the Indian market on August 5 with a negative bias following a muted trend in international spot prices amid firm dollar after a top US Federal Reserve official signalled the possibility of bringing forward policy tightening.

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Gold prices were on track for their biggest weekly gain in more than two months on renewed signs that the U.S. Federal Reserve may not taper economic support and hike interest rates in the near term.

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