At the Multi Commodity Exchange, gold for delivery in December declined by Rs 76, or 0.26 per cent to Rs 29,478 per ten grams in business turnover of 541 lots.
Similarly, the yellow metal for delivery in far-month February next year contracts traded lower by Rs 48, or 0.16 per cent to Rs 29,524 per ten grams in 16 lots.
Analysts said apart from profit-booking by participants after recent gains, a weakening trend in the overseas markets where gold declined as the dollar strengthened, reducing appeal of the precious metals a safe haven, mainly weighed on gold prices at futures trade here.