Gold futures slide 0.12 per cent on global cues

New Delhi: Gold prices softened by 0.12 per cent to Rs 28,957 per 10 grams in futures trade today as speculators trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in August declined by Rs 36, or 0.12 per cent to Rs 28,957 per ten grams in business turnover of 411 lots.

Likewise, the metal for delivery in October contracts shed Rs 32, or 0.11 per cent to Rs 29,112 per ten grams in 2 lots.

Market analysts said offloading of positions by participants in line with a weak trend overseas, mainly led to decline in gold prices at futures trade.

Globally, gold fell 0.07 per cent to USD 1,265.50 an ounce in New York yesterday.