New Delhi: Gold prices dipped by 0.17 per cent to Rs 31,037 per 10 grams in futures trade on Monday as speculators trimmed their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in June fell by Rs 54, or 0.17 per cent to Rs 31,037 per ten grams in business turnover of 116 lots.
In a similar fashion, the yellow metal for delivery in far-month August was trading lower by Rs 44, or 0.14 per cent to Rs 31,305 per ten grams in 7 lots.
Analysts said off-loading of positions by participants in line with a weak trend overseas as the dollar rose and demand for safe-haven assets eased after US Treasury Secretary Steven Mnuchin said the US trade war with China was on hold, mainly influenced gold prices at futures trade here.
Globally, gold fell 0.33 per cent to USD 1,287.60 an ounce in Singapore on Monday.
