New Delhi: Gold prices dipped by 0.32 per cent to Rs 31,403 per 10 grams in futures trade on Tuesday as speculators trimmed their positions post a weak overseas trend.

At the Multi Commodity Exchange, gold for delivery in June fell by Rs 101, or 0.32 per cent to Rs 31,403 per ten grams in business turnover of 770 lots.

On the 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 on 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 USD 1,310.90 an ounce in Singapore on Tuesday.