Gold futures slide below Rs 46,950 on low demand

NEW DELHI: Gold prices fell by Rs 240 to Rs 46,935 per 10 gram in futures trade on Friday as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for June delivery traded lower by Rs 240, or 0.51 per cent, at Rs 46,935 per 10 gram in a business turnover of 11,288 lots.

Analysts attributed the fall in gold prices to trimming of positions by participants.

Globally, gold traded 0.23 per cent lower at USD 1,762.80 an ounce in New York.