Gold futures on Monday fell 0.05 per cent to Rs 48,944 per 10 gram as participants offloaded their holdings on low spot demand.
On the Multi Commodity Exchange, gold prices for August delivery fell by Rs 23, or 0.05 per cent, to Rs 48,944 per 10 gram in a business turnover of 8,059 lots.
The yellow metal for October delivery declined by Rs 87, or 0.18 per cent, to Rs 49,020 per 10 gram in 11,500 lots.
Gold was trading 0.03 per cent down at USD 1,809.50 per ounce in New York