Gold futures fall on low demand

Gold prices fell Rs 61 to Rs 48,492 per 10 gram in the futures trade on Tuesday as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for the June delivery traded lower by Rs 61, or 0.13 per cent, to Rs 48,492 per 10 gram in a business turnover of 5,469 lots.

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

Globally, gold traded 0.19 per cent lower at USD 1,883.10 an ounce in New York.