Gold futures fall on low demand

Gold prices on Tuesday fell by `85 to  `50,579 per 10 grams in futures trade as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower by  `85 or 0.17 per cent at  `50,579 per 10 grams in a business turnover of 13,333 lots.

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

Globally, gold was trading 0.01 per cent higher at USD 1,832 per ounce in New York.