Gold prices fell down sharply setting aside the record-setting spree breaking the record spree that had been going on for so long. The price of gold fell down by Rs 281 to Rs 19,896 per ten gram in the futures trading on Monday.

And the reason for this decline in the weak overseas trends, that have appeared and also because the speculators have started booking profits.

At the Multi Commodity Exchange platform, gold for the month of April contracts were trading at Rs 281, or 1.81 per cent, to Rs 19,986 per ten gram. They showed a turnover of 63 lots.

Similarly, for February the deliveries declined by Rs 218, or 2.1 per cent, to Rs 19,816 per ten gram. They had a turnover of 249 lots for the shipments which were to be delivered in December.

The contracts for the month of December fell down by Rs 183, or 0.95 per cent, to Rs 19,681 per ten gram, clocking a turnover of 4,668 lots.

In the Asian region, the gold went down by $8.40 to $ 1,360.50 an ounce. It had touched an all-time high of $1,388.10.