Gold futures slip on low demand

New Delhi, Jul 8 (PTI) Gold prices on Monday declined Rs 186 to Rs 72,865 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for August delivery traded marginally lower Rs 186 or 0.25 per cent at Rs 72,865 per 10 grams in a business turnover of 13,670 lots.

Analysts attributed the fall in gold prices to weak global cues.

Globally, gold was trading 0.38 per cent lower at USD 2,388.50 per ounce in New York.