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Gold price fell by Rs 5 to Rs 55,124 per 10 gram in the national capital on Wednesday amid a fall in precious metal prices in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 55,129 per 10 gram. Similarly, silver also slipped Rs 332 to Rs 70,048 per kilogram. "Comex gold price edged lower in the Asian trading hours due to an uptick in US Dollar," said an analyst at HDFC Securities.

In the international market, gold was quoting lower at USD 1,807 per ounce while silver was down at USD 23.93 per ounce. "Focus today will be on the US pending home sales data, however, we could witness thin volumes ahead of Christmas and New Year holidays," Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.