Gold prices on Monday dropped ₹1,084 to ₹1,59,827 per 10 grams in futures trade amid a fall in spot demand.
On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by ₹1,084, or 0.67 per cent, at ₹1,59,827 per 10 grams in a business turnover of 992 lots.
Analysts attributed the fall in gold prices to weak global cues.
Globally, gold futures declined by 0.39 per cent to $4,522.52 per ounce in New York.