Gold prices declined by Rs. 17 to Rs. 18,296 per ten gram in futures trade today as traders reduced their positions in tandem with a weakening global trend.
At the Multi Commodity Exchange, gold for August month fell by Rs. 17, or 0.09 per cent to Rs. 18,296 per ten gram with an open interest of 20,558 lots.
Similarly, the metal for delivery for the October month lost Rs. 9, or 0.05 per cent to Rs. 18,387 per ten gram in 2,671 lots.
Marketmen said fresh off-loading by speculators in tandem with a weakening global trend mainly led to a fall in gold prices at futures trade.
Meanwhile, gold declined by 1.20 dollar to 1197.30 dollar an ounce in the Asian region.