Gold futures fall on low demand

Gold prices on Monday declined Rs34 to Rs62,260 per 10 grams in futures trade as speculators reduced their positions. On the Multi Commodity Exchange, gold contracts for April delivery traded lower Rs34 or 0.07 per cent at Rs 62,260 per 10 grams in a business turnover of 13,752 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.04 per cent higher at $2,039.50 per ounce in New York.