Gold prices on Wednesday declined Rs67 to Rs71,400 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower Rs67 or 0.09 per cent at Rs71,400 per 10 grams in a business turnover of 14,131 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.24 per cent lower at $2,325.10 per ounce in New York.