Gold prices fall further down by Rs 140

Gold prices on Wednesday fell by Rs 140 to Rs 50,620 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 140 or 0.28 per cent at Rs 50,620 per 10 grams in a business turnover of 12,514 lots.

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

Globally, gold was trading 0.54 per cent lower at USD 1,828.80 per ounce in New York.