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Gold prices on Monday dropped ₹60 to ₹39,020 per 10 gram in futures trade as participants cut down their positions even as the metal gained overseas.
On the Multi Commodity Exchange, gold prices for delivery in February fell by ₹60, or 0.15 per cent, to ₹39,020 per 10 gram in a business turnover of 1,566 lots.
The yellow metal for April delivery slipped ₹54, or 0.14 per cent, to ₹39,119 per 10 gram in 77 lots.
Analysts said despite positive overseas trend, weak sentiment at the domestic market led to fall in gold futures price.
Globally, gold was trading 0.02 per cent higher at $1,518.40 an ounce in New York.
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