Gold futures fall on low demand

Gold prices on Tuesday declined Rs104 to Rs62,455 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for February delivery traded lower by Rs 104 or 0.17 per cent at Rs62,455 per 10 grams in a business turnover of 9,004 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.02 per cent higher at $2,052.10 per ounce in New York.