New Delhi, July 27: Gold prices fell by Rs 140 to Rs 18,380 per ten grams in the national capital today on heavy selling by stockists, triggered by a weakening global trend.
The trading sentiment was bearish for the second straight session after the euro climbed against the dollar, eroding demand for the precious metal as an investment haven amid waning European debt concerns.
Gold in overseas markets, which normally sets the price trend on the domestic front, fell by USD 7.60 to USD 1,182.10 an ounce.
Reduced offtake at existing higher levels and shifting of funds from weakening bullion to firming equities also influenced the market sentiment.
Gold of 99.9 per cent and 99.5 per cent purity tumbled by Rs 140 each to Rs 18,380 and Rs 18,280 per ten grams, respectively. Sovereigns also fell by Rs 75 to Rs 14,600 per piece of eight grams.
–PTI