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Gold futures fall on weak demand

New Delhi, May 2 (PTI) Gold prices on Monday fell by Rs 674 to Rs 51,080 per 10 grams in the futures market as speculators reduced their positions amid weak spot demand.

On the Multi Commodity Exchange, gold for delivery in June fell by Rs 674, or 1.3 per cent, to Rs 51,080 per 10 grams. It had a business turnover of 12,319 lots.

Market analysts attributed the fall in gold futures to offloading of positions by participants.

Globally, gold fell by 1.49 per cent to Rs 1,883.30 an ounce in New York.

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