Gold futures fall on low demand

New Delhi, Jun 3 (PTI) Gold prices on Monday declined Rs 222 to Rs 71,612 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower Rs 222 or 0.31 per cent at Rs 71,612 per 10 grams in a business turnover of 16,8694 lots.

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

Globally, gold was trading 0.06 per cent lower at USD 2,344.30 per ounce in New York.