Gold futures slip Rs 35 at Rs 38,855 per 10 gm

New Delhi: Gold futures traded lower by Rs 35 at Rs 38,855 per 10 gram on Tuesday as participants reduced positions in tandem with decline in prices of the precious metal overseas.

Gold contracts for December delivery traded lower by Rs 35, or 0.09 per cent, at Rs 38,855 per 10 gm in 2,142 lots.

Similarly, gold for delivery in February next year fell by Rs 21, or 0.06 per cent, to Rs 38,130 per 10 gram in 105 lots.

Globally, gold prices slumped 0.03 per cent to USD 1,487.70 an ounce in New York.