Gold futures fall on low demand

Gold prices on Wednesday declined Rs153 to Rs61,862 per 10 grams in futures trade as speculators reduced their positions. On the Multi Commodity Exchange, gold contracts for February delivery traded lower by Rs153 or 0.25 per cent at Rs61,862 per 10 grams in a business turnover of 8,018 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.23 per cent lower at $2,025.50 per ounce in New York.