Gold prices slip 0.24% on global cues

Gold prices slipped 0.24% to Rs 29,854 per 10 grams in futures trade on Friday as participants cut their bets amid a weak global trend.

At Multi Commodity Exchange, gold for delivery in December month fell by Rs 73, or 0.24% to Rs 29,854 per 10 grams in business turnover of 3495 lots.

Similarly, the metal for delivery in February next year traded lower by Rs 57, or 0.17% to Rs 29,823 per 10 grams in 78 lots.

Market analysts attributed the slide in gold prices to a weak trend overseas.

At the spot market, gold prices were down by Rs 110 to Rs 30,590 per 10 grams in the national capital despite token buying by jewellers and retailers on the occasion of 'Dhanteras'.
 
Globally, gold fell 0.22% to $1,265.30 an ounce in London.