Gold futures fall on low demand

Gold prices on Monday declined Rs58 to Rs62,287 per 10 grams in futures trade as speculators reduced their positions. On the Multi Commodity Exchange, gold contracts for April delivery traded lower Rs58 or 0.09 per cent at Rs62,287 per 10 grams in a business turnover of 13,171 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.27 per cent lower at $2,043.90 per ounce in New York.