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Gold prices on Monday dropped by ₹2,045 to ₹1,54,236 per 10 grams in futures trade amid a fall in spot demand.
On the Multi Commodity Exchange, yellow metal contracts for October delivery traded lower by ₹2,045, or 1.31 per cent, at ₹1,54,236 per 10 grams in a business turnover of 2,680 lots.
Analysts attributed the decline in precious metal prices to weaker spot demand.
Globally, gold futures declined by 0.51 per cent to $4,432.51 per ounce in New York.