Gold prices dipped by 0.53 per cent to Rs 34,399 per 10 gram in futures trade Wednesday as speculators reduced exposure on weak spot demand.
On the Multi Commodity Exchange, gold contracts for August delivery fell by Rs 183, or 0.53 per cent, to Rs 34,399 per 10 gram in a business turnover of 16,222 lots.
Analysts said off-loading of positions by participants to book profits influenced gold prices at futures trade.
Globally, the yellow metal traded 0.49 per cent lower at USD 1,393.60 an ounce in New York.
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