Gold futures slide Rs 88 on profit-booking

Gold prices fell Rs 88 to Rs 29,618 per 10 gram in futures trade today as participants cut down their bets even as the precious metal strengthened overseas.
At the Multi Commodity Exchange, gold prices for delivery in far-month February fell by Rs 88, or 0.30 per cent, to Rs 29,618 per 10 gram, in a business turnover of 18 lots.
Also, the metal for December declined by Rs 44, or 0.15 per cent, to Rs 29,491 per 10 gram, in 671 lots.
Analysts attributed the fall in prices to profit-booking by participants but a firm trend in overseas market, capped the fall.

Meanwhile, gold was trading 0.17 per cent down at USD 1,283 an ounce in Singapore today.