Tracking a weak trend overseas, gold prices edged 0.21 per cent lower to Rs 31,488 per 10 grams in futures trade Monday as participants cut bets.
At the Multi Commodity Exchange, gold prices for delivery in February fell Rs 65, or 0.21 per cent, to Rs 31,488 per 10 grams in a business turnover of 133 lots.
Similarly, the metal for delivery in January was trading Rs 58, or 0.18 per cent, down at Rs 31,379 per 10 grams in 78 lots.
Analysts attributed the slide in gold futures to decline in bets by participants in line with a weak trend overseas.
Meanwhile, gold eased by 0.07 per cent, to $1,238.20 an ounce in Singapore.