The exchange remained closed in the morning session for 'Id-ul-Fitr' (Ramzan Eid).
At the Multi Commodity Exchange, gold for delivery in far-month October fell by Rs 358, or 1.24 per cent, to Rs 28,503 per 10 grams in business turnover of 137 lots.
Likewise, the metal for delivery in August month contracts declined by Rs 349, or 1.21 per cent, to Rs 28,385 per 10 grams in 137 lots.
Market analysts said the fall in gold futures was mainly in line with a weakening trend overseas.