Gold prices on Monday dropped ₹782 to ₹1,43,380 per 10 grams in futures trade amid a fall in spot demand.
On the Multi Commodity Exchange, yellow metal contracts for August delivery traded lower by ₹782, or 0.54 per cent, at ₹1,43,380 per 10 grams in a business turnover of 1,592 lots.
Analysts attributed the fall in precious metal prices to weak global cues.
Globally, gold futures declined by 0.72 per cent to $4,059.36 per ounce in New York.