New Delhi: Gold prices dipped 0.17 per cent to Rs 34,520 per 10 gram in futures trade Tuesday as speculators reduced exposure.

On the Multi Commodity Exchange, gold for delivery in August contracts fell by Rs 59, or 0.17 per cent, to Rs 34,520 per 10 gram in a business turnover of 16,384 lots.

Analysts said off-loading of positions by participants to book profits influenced gold prices at the futures trade here.

Globally, the yellow metal traded 0.21 per cent lower at USD 1,397.10 an ounce in New York.

Silver

Silver futures traded 0.08 per cent higher to Rs 38,055 per kg Tuesday after speculators raised bets, driven by a firm trend overseas.

On Multi Commodity Exchange, silver contracts for September delivery rose by Rs 31, or 0.08 per cent, to Rs 38,055 per kg in a business turnover of 30,554 lots.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

In international market, silver traded higher at USD 15.05 an ounce in New York.