Gold prices on Tuesday fell by Rs 231 to Rs 50,400 per 10 gram in futures trade as speculators reduced their positions.
On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs 231 or 0.46 per cent at Rs 50,400 per 10 gram in a business turnover of 9,786 lots.
Analysts attributed the fall in gold prices to the trimming of positions by participants.
Globally, gold was trading 0.38 per cent lower at USD 1,734 per ounce in New York.