Gold, silver fall to two-week low on global cues

Gold remained under pressure for the straight eight session to dropped near its two-week lows at Rs 26,945 per 10 gm at the domestic bullion market here on heavy stockists unwinding following global uncertainty.
Silver fell further also to touch two weeks low at Rs 38,850 per kg due to subdued demand from jewellery makers amid poor industrial buying.
Standard gold (99.5 purity) declined by Rs 105 to close at Rs 26,945 per 10 gm from Tuesday's closing level of Rs 27,050.
Pure gold (99.9 purity) also moved down by a similar margin to conclude at Rs 27,095 per 10 gm from Rs 27,200.

Silver (.999 fineness) dipped by Rs 150 to finish at Rs 38,850 per kg as against Rs 39,000 earlier.
On the global front, gold steadied in early trade off the previous session's two-week low as the dollar retreated after its biggest daily rise in two years, but prices remained under pressure from expectations that a US rate increase may come soon.
Spot gold was at USD 1,185.50 an ounce in morning trade little changed from yesterday's close, while silver was down at USD 16.64 an ounce.