Gold futures fall on low demand

Gold prices on Monday declined Rs519 to Rs72,208 per 10 grams in futures trade as speculators reduced their positions. On the MCX, gold contracts for June delivery traded lower Rs519 at Rs72,208 per 10 grams in a business turnover of 13,923 lots.

Analysts attributed the fall in the precious metal prices to weak global cues. Globally, gold was trading 0.88 per cent lower at $2,354.20 per ounce in New York.