Gold futures decline on low demand

NEW DELHI: Gold prices fell by Rs 166 to Rs 47,227 per 10 gram in futures trade on Tuesday as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for June delivery traded lower by Rs 166, or 0.35 per cent, at Rs 47,227 per 10 gram in a business turnover of 11,270 lots.

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

Globally, gold traded 0.10 per cent lower at USD 1,768.80 an ounce in New York.

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