Gold futures fall on low demand

Gold prices on Friday fell by Rs 46 to Rs 54,061 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for February delivery traded lower by Rs 46 or 0.09 percent at Rs 54,061 per 10 gram in a business turnover of 14,974 lots.

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

Globally, gold was trading 0.06 percent higher at USD 1,788.80 per ounce in New York.