gold, silver prices in India May 20 2011

gold, silver prices in India May 20 2011 : In overseas trade, gold traded lower in Europe on oftening dollar and weak economic data from the US, which showed a slowdown in manufacturing growth raising prospects that the Federal Reserve would continue its loose monetary policy for some more time.

Spot gold was bid at USD 1,494.20 an ounce in early trade as against USD 1,491.60 late in New York yesterday, while silver was bid at USD 34.79 an ounce as compared to USD 34.95 previously.

Silver prices reacted downwards at the domestic bullion market in Mumbai on Friday after a two-day surge on emergence of heavy stockist. However, gold firmed up on fresh retail and investment buying.

Silver ready (.999 fineness) dropped by Rs 890 per kg to finish at Rs 53,665 from its overnight closing level of Rs 54,555.

However, standard gold (99.5 purity) gained by Rs 30 per 10 grams to close at Rs 21,930 from Rs 21,900 yesterday.

Pure gold (99.9 purity) also looked up by a similar margin to end at Rs 22,030 per 10 grams as against Rs 22,000 previously.
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