Gold futures fall on low demand

On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs 95 or 0.16 per cent to Rs 58,993 per 10 grams in a business turnover of 11,994 lots.

New Delhi: Gold prices on Thursday fell by Rs 95 to Rs 58,993 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 95 or 0.16 per cent to Rs 58,993 per 10 grams in a business turnover of 11,994 lots.

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

Globally, gold was trading 0.14 per cent lower at USD 1,941.40 per ounce in New York.