Gold futures fall on low demand

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

New Delhi: Gold prices on Friday fell by Rs 78 to Rs 58,733 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 78 or 0.13 per cent to Rs 58,733 per 10 gram in a business turnover of 12,510 lots.

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

Globally, gold was trading 0.31 per cent lower at USD 1,941.10 per ounce in New York.