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Gold prices moved down by 0.32 per cent to Rs 31,270 per 10 grams at the futures trade today as participants trimmed their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in August fell Rs 99 or 0.32 per cent to Rs 31,270 per ten grams in a business turnover of 30 lots. Likewise, the yellow metal for delivery in June was trading lower by Rs 92 or 0.30 per cent at Rs 31,020 per ten grams in 223 lots.
Analysts said offloading of positions by speculators in line with a weak trend overseas, where gold prices dipped slightly, influenced the domestic sentiment.
Gold prices dipped slightly on Tuesday, hovering not far off a 2018 low struck in the previous session as a firm dollar near five-month highs and optimism in global markets curbed appetite for the precious metal. Globally, the yellow metal fell 0.22 per cent to $1,289.30 an ounce in Singapore.
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