New Delhi, Dec 4 (PTI) Gold prices fell by Rs 280 to Rs 18,270 per ten gram in the bullion market today on emergence of widespread selling by stockists in the face of a weakening global trend.
Selling pressure gathered momentum as gold fell to 1,205.60 dollar an ounce in London from the record 1,226 dollar.
Marketmen said the precious metal fell as stockists indulged in reducing their holdings in tandem with a weakening global trend.
In addition, fall in demand by retailers at existing higher levels also added to the pressure on prices.
Standard gold and ornaments, which was setting fresh records almost every day, plunged by Rs 280 each to Rs 18,270 and Rs 18,120 per ten gram respectively while sovereign lost Rs 50 at Rs 14,300 per piece of eight gram.
