Gold prices dipped by 0.03 per cent to Rs 34,870 per 10 gram in futures trade Tuesday as speculators reduced exposure, driven by subdued demand at the spot market.
On the Multi Commodity Exchange, gold for delivery in August contracts fell by Rs 12, or 0.03 per cent, to Rs 34,870 per 10 gram in a business turnover of 17,290 lots.
Analysts said off-loading of positions by participants to book profits and a weak trend in the domestic markets, mainly influenced gold prices at futures trade here.
Globally, however, the prices of the precious metal recovered marginally 0.07 per cent to USD 1,414.50 an ounce in New York.
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