Gold prices on Tuesday fell by Rs 477 to Rs 39,041 per 10 gram in futures trade as participants cut down their positions tracking a weak trend overseas. Silver futures plunged Rs 748 to Rs 35,459 per kg.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 477, or 1.21%, to Rs 39,041 per 10 gram in a business turnover of 4,662 lots. Silver contracts for May delivery tumbled by Rs 748, or 2.07%, to Rs 35,459 per kg in a business turnover of 7,914 lots

The yellow metal for June delivery declined by Rs 554, or 1.39%, to Rs 39,335 per 10 gram in 757 lots. Besides, the white metal to be delivered in July fell by Rs 733, or 1.99%, to Rs 36,024 per kg in 374 lots.