Gold prices on Wednesday fell by Rs 102 to Rs 40,140 per 10 gram in futures trade as participants cut down their positions in line with a weak trend overseas. On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 102, or 0.25 per cent, to Rs 40,140 per 10 gram in a business turnover of 1,862 lots.
The yellow metal for April delivery slumped Rs 128, or 0.32 per cent, to Rs 40,245 per 10 gram in 919 lots.
Analysts said subdued overseas cues influenced sentiments in New Delhi.
Globally, gold was trading 0.26 per cent lower at USD 1,571.70 an ounce in New York.