Gold futures fall on low demand

Gold prices on Wednesday fell by Rs 15 to Rs 59,228 per 10 grams in futures trade as speculators reduced their positions.

New Delhi: Gold prices on Wednesday fell by Rs 15 to Rs 59,228 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs 15 or 0.03 per cent to Rs 59,228 per 10 grams in a business turnover of 12,028 lots.

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

Globally, gold was trading 0.10 per cent lower at USD 1,950.70 per ounce in New York.