Gold futures fall on low demand

New Delhi, Mar 27 (PTI) Gold prices on Monday fell by Rs 303 to Rs 58,970 per 10 gram in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for April delivery traded lower by Rs 303 or 0.51 per cent to Rs 58,970 per 10 gram in a business turnover of 5,859 lots.

Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.66 per cent lower at USD 1,988.40 per ounce in New York.