Gold futures ease on low demand

Gold futures fell 0.48 per cent to Rs 48,905 per 10 gram on Wednesday as participants offloaded their holdings on low spot demand.

On the Multi Commodity Exchange, gold prices for February delivery declined by Rs 238, or 0.48 per cent, to Rs 48,905 per 10 gram in a business turnover of 4,347 lots.

In the international market, gold was trading 0.01 per cent lower at $1,854.60 per ounce in New York.