Speculators reduced their positions as gold fell by Rs 126 to Rs 50,012 per 10 grams in futures trade on Wednesday.
On the Multi Commodity Exchange, gold for delivery in October was trading lower by Rs 126, or 0.25 per cent, at Rs 50,012 per 10 grams, with a business turnover of 9,974 lots.
Analysts attributed the fall in gold prices to offloading of positions by participants.
Globally, gold was trading 0.46 per cent lower at $ 1,709.50 an ounce in New York.
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