Gold prices on Tuesday fell by Rs 199 to Rs 39,347 per 10 gram in futures trade as participants cut down their positions in line with a weak trend overseas.
On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 199, or 0.50 per cent, to Rs 39,347 per 10 gram in a business turnover of 2,641 lots.
The yellow metal for April delivery slumped Rs 208, or 0.52 per cent, to Rs 39,500 per 10 gram in 254 lots.
Analysts said subdued overseas cues influenced sentiment here.
Globally, gold was trading 0.75 per cent lower at USD 1,538.90 an ounce in New York.
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