Gold futures fall on low demand

New Delhi, Jun 10 (PTI) Gold prices on Monday declined Rs 345 to Rs 71,008 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower Rs 345 or 0.48 per cent at Rs 71,008 per 10 grams in a business turnover of 15,759 lots.

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

Globally, gold was trading 0.47 per cent lower at USD 2,314 per ounce in New York.