Gold, silver slide on steady selling

Gold prices slid further at the domestic bullion market here on steady selling by stockists and investors amid poor local buying interest coupled with uncertain global markets.
Silver also weakened to over two week lows to revisit Rs 34,000 per kg level on persistent speculative selling and subdued industrial demand.
Standard gold (99.5 purity) fell by Rs 205 to end at Rs 26,240 per 10 grams from Wednesday's closing level of Rs 26,445.
Pure gold (99.9 purity) also went down by a similar margin of Rs 205 to finish at Rs 26,390 per 10 grams as compared to Rs 26,595 yesterday.

Silver (.999 fineness) dropped by Rs 330 a kg to close at Rs 34,715 as against Rs 35,045 previously.
On the global front, gold gained slightly in early European trade after its biggest one-day drop in five weeks, supported by speculation that a US rate hike may take longer than expected but still under pressure from a rebound in stock markets and a firmer dollar.
In London, spot gold dropped to USD 1,125.95 an ounce in early trade, while spot silver declined to USD 14.21 an ounce.