Gold prices declined by Rs 80, or 0.40 per cent, to Rs 18,540 per

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ten gram in futures trade today, as speculators preferred to book profits after the gold surged to a record high amid weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in June contract drifted by Rs 80, or 0.40 per cent to Rs 18,540 per ten gram, with a turnover of 88 lots.

Similarly, the metal for delivery in July contract eased by Rs 86, or 0.39 per cent, to Rs 18,551 per ten gram, with a business turnover of 3,023 lots. It ended 0.40 per cent down at Rs 18,637 per 10 grams in yesterday's trading.

"Emergence of profit-booking by speculators at current record levels, led to a fall in gold futures", said an analyst Rakesh Ananad.

Analsyts said trading sentiment turned bearish after gold eased in overseas markets, where strong US data overnight weighed on the safe haven metal.

Besides, profit-taking by speculators at record levels also put some pressure on the metal prices at futures market here, they added.

Meanwhile, gold dropped USD 1.80, to USD 1,223.20 an ounce in the Asian region.