Gold futures slide on weak global cues

New Delhi: Gold prices fell 0.25 per cent to Rs 29,587 per 10 grams in futures trade on Friday as participants cut down their bets amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 74 or 0.25 per cent to Rs 29,587 per 10 grams in a business turnover of 86 lots.

Also, the metal for delivery in far-month February next year declined by Rs 54, or 0.18 per cent to Rs 29,753 per 10 grams in six lots.

Analysts attributed the fall in prices trimming of positions by participants, tracking a weak trend in global market.

Meanwhile, gold fell 0.02 per cent at USD 1,284.30 an ounce in Singapore on Friday.