Gold futures prices fall due to sluggish demand

Gold futures prices fall due to sluggish demand

New Delhi, Jun 9 (PTI) Gold prices on Wednesday fell by Rs 77 to Rs 49,050 per 10 grams in the local futures market as speculators offloaded their positions amid weak spot demand.

On the Multi Commodity Exchange, gold for delivery in August fell by Rs 77, or 0.16 per cent, to Rs 49,050 per 10 grams. It had a business turnover of 11,704 lots.

Market analysts said offloading of positions by participants led to losses in gold futures.

Globally, gold prices fell by 0.15 per cent to USD 1,891.60 an ounce in New York.

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