Gold prices on Monday fell by Rs 171 to Rs 39,700 per 10 gram in futures trade as participants cut down their bets amid a weak global trend.
On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 171, or 0.43 per cent, to Rs 39,700 per 10 gram in a business turnover of 2,145 lots.
The yellow metal for April delivery fell by Rs 232, or 0.58 per cent, to Rs 39,822 per 10 gram in 441 lots.
Analysts attributed the fall in prices to trimming of positions by investors tracking a weak trend in global market.
Globally, gold was trading 0.30 per cent lower at USD 1,555.40 an ounce in New York.