Gold futures fall on low demand

New Delhi, Aug 7 (PTI) Gold prices on Monday fell Rs 119 to Rs 59,408 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs 119 or 0.2 per cent to Rs 59,408 per 10 grams in a business turnover of 14,402 lots.

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

Globally, gold was trading 0.27 per cent lower at USD 1,970.80 per ounce in New York.