Gold futures fall on low demand

Gold prices on Tuesday fell Rs 88 to Rs 59,331 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for June delivery traded lower by Rs 88 or 0.15 per cent at Rs 59,331 per 10 grams in a business turnover of 851 lots.

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

Globally, gold was trading 0.35 per cent lower at USD 1,956.30 per ounce in New York.