Gold prices declined by Rs 16, or 0.09 per cent, to Rs 18,240 per ten gram in futures trade today, as speculators booked profits at existing higher levels, driven by a subdued demand in the spot market.
Lower trend in overseas markets also influenced the trading sentiment.
At the Multi Commodity Exchange counter, gold for December fell by Rs 16, or 0.09 per cent, to Rs 18,240 per ten gram, with an open interest of 1,570 lots.
Similarly, the metal for delivery in October declined by Rs 12, or 0.07 per cent, to Rs 18,155 per ten gram, with a turnover of 16,512 lots.
Marketmen said profit booking by speculators at existing higher levels due to fall in demand in the spot market and weakening global trend mainly led to a fall in gold prices at futures trade.
Meanwhile, gold declined by $3.80 to $1,197.40 an ounce in Asian region.