Gold futures weaken 0.1% on sluggish demand

Strengthening US dollar sapped gold demand

Gold futures for February weakened by Rs 33, or 0.11% to Rs 30,761 per 10 grams in 5,315 lots.

At the Multi Commodity Exchange, the April contract lost Rs 30, or 0.10%, to Rs 31,389 per 10 grams in 427 lots.

Speculators trimming their positions, sluggish spot demand affected prices.

Weak global trend on strengthening of the US dollar sapped gold demand. Firm dollar makes gold cheaper to buy.

In Singapore, gold dropped 0.2% to $ 1,654.10 an ounce.