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Gold prices on Thursday dropped by ₹437 to ₹1,54,445 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 ₹437, or 0.28 per cent, at ₹1,54,445 per 10 grams in a business turnover of 848 lots.
Analysts attributed the decline in precious metal prices to weaker spot demand.
Globally, gold futures declined by 0.31 per cent to $4,394.57 per ounce in New York.