Gold futures slide 0.07% on weak global cues

Gold prices softened by 0.07 per cent to Rs 28,722 per 10 grams in futures trade today as participants cut down their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month June was trading lower by Rs 20, or 0.07 per cent to Rs 28,722 per 10 grams in business turnover of 252 lots.
Similarly, the metal for delivery in April contracts shed Rs 15, or 0.05 per cent to Rs 28,448 per ten grams in 47 lots.
Analysts said offloading of positions by traders in tandem with a weak trend overseas mainly led to decline in gold prices at futures trade.

Globally, gold fell 0.08 per cent to USD 1,248.20 an ounce in Singapore.