Gold futures slip on low demand

New Delhi, Jul 22 (PTI) Gold prices on Monday marginally declined by Rs 12 to Rs 72,978 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for August delivery traded marginally lower Rs 12 or 0.02 per cent at Rs 72,978 per 10 grams in a business turnover of 10,689 lots.

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

Globally, gold was trading 0.23 per cent lower at USD 2,452.50 per ounce in New York.