Gold futures fall on low demand

New Delhi, Jun 22 (PTI) Gold prices on Thursday fell Rs 214 to Rs 58,500 per 10 gram in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 214 or 0.36 per cent to Rs 58,500 per 10 grams in a business turnover of 13,093 lots.

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

Globally, gold was trading 0.44 per cent lower at USD 1,936.30 per ounce in New York.