Gold futures fall on low demand

New Delhi, Sep 26 (PTI) Gold prices on Tuesday fell by Rs 113 to Rs 58,588 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 113 or 0.19 per cent at Rs 58,588 per 10 grams in a business turnover of 5,008 lots.

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

Globally, gold was trading 0.35 per cent lower at USD 1,929.80 per ounce in New York.