Gold futures fall on low demand

Gold prices on Monday declined Rs913 to Rs71,888 per 10 grams in futures trade on the Multi Commodity Exchange amid profit booking. On the MCX, gold contracts for June delivery traded lower Rs 913 or 1.26 per cent at Rs71,888 per 10 grams in a business turnover of 20,427 lots. Analysts attributed the fall in gold prices to weak global cues and profit booking at higher level. Globally, gold was trading 1.78 per cent higher at $2,370.80 per ounce in New York.