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Gold prices on Monday fell by Rs 79 to Rs 40,565 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 April fell by Rs 79, or 0.19 per cent, to Rs 40,565 per 10 gram in a business turnover of 1,545 lots.
The yellow metal for June delivery slumped by Rs 47, or 0.12 per cent, to Rs 40,743 per 10 gram in 42 lots.
Analysts said weak domestic spot demand mainly dragged down the gold futures. Globally, gold was trading 0.10 per cent higher at $1,575 an ounce in New York.
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