Gold futures ease on low demand

Gold futures on Wednesday fell 0.82 per cent to Rs 49,697 per 10 gram as participants offloaded their holdings on low spot demand.

On the Multi Commodity Exchange, gold prices for the February delivery declined Rs 412, or 0.82 per cent, to Rs 49,697 per 10 gram in a business turnover of 12,034 lots.

Gold was trading 0.61 per cent down at USD 1,863.50 per ounce in New York.