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Gold prices dipped 0.32 per cent to Rs 31,403 per 10 grams at the futures trade as speculators trimmed their positions owing to a weak overseas trend.
At the Multi Commodity Exchange, gold for delivery in June fell Rs 101 or 0.32 per cent to Rs 31,403 per ten grams in a business turnover of 770 lots. On similar lines, the yellow metal for delivery in far-month August declined by Rs 99 or 0.31 per cent to Rs 31,645 per ten grams in 32 lots.
Analysts said off-loading of positions by participants in line with a weak trend overseas, owing to a firm dollar and outlook for further interest rate hikes in the United States, mainly influenced gold prices at the futures trade. Globally, gold fell 0.16 per cent to $1,310.90 an ounce in Singapore.
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