Gold futures fall on low demand

Gold prices on Friday fell Rs59 to Rs63,330 per 10 grams in futures trade as speculators reduced their positions. On the Multi Commodity Exchange, gold contracts for February delivery traded lower by Rs59 or 0.09 per cent at Rs63,330 per 10 grams in a business turnover of 15,832 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.13 per cent lower at $2,080.70 per ounce in New York.