Gold futures slide to Rs 29,431 per 10 grams on weak global cues

New Delhi: Gold prices fell 0.42 per cent to Rs 29,431 per 10 grams in futures trade today as participants cut down bets amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in October were trading lower by Rs 124, or 0.42 per cent, to Rs 29,431 per 10 grams in a business turnover of 749 lots.

Also, the metal for delivery in December declined by Rs 102, or 0.34 per cent, to Rs 29,600 per 10 grams in five lots.

Analysts attributed the fall in prices to weak trend overseas as the dollar strengthened against a basket of major currencies, eroding demand for precious metals.

Meanwhile, gold was trading 0.41 per cent down at USD 1,302.70 an ounce in Singapore today.