Gold futures move higher to reclaim Rs 47,950 level

NEW DELHI: Gold prices fell by Rs 260 to Rs 47,968 per 10 gram in futures trade on Thursday as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for June delivery traded lower by Rs 260, or 0.54 per cent, at Rs 47,968 per 10 gram in a business turnover of 11,233 lots.

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

Globally, gold traded 0.04 per cent lower at USD 1,792.40 an ounce in New York.

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