Gold futures fall on low demand

On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs 166 or 0.28 per cent to Rs 58,515 per 10 grams in a business turnover of 13,537 lots.

New Delhi: Gold prices on Thursday fell Rs 166 to Rs 58,515 per 10 gram in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs 166 or 0.28 per cent to Rs 58,515 per 10 grams in a business turnover of 13,537 lots.

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Analysts attributed the fall in gold prices to the trimming of positions by participants.

Globally, gold was trading 0.12 per cent lower at USD 1,926 per ounce in New York.