Silver Ends Week Below $13

Exactly like last week, silver and gold prices fell while palladium and platinum rose. Silver ended under $13 in London and in New York.

In spot trading, the London silver fixing ended the week at $12.86 an ounce, falling 36 cents, or 2.7 percent. Silver dropped 43 cents during the previous week.

New York silver futures for May lost 52.8 cents on the week, or 4.0 percent, to close at $12.735. The metal ended the previous Friday at $13.263.

Despite two straight weeks of loses, silver soared 21.5 percent in the first quarter of 2009, making it a solid investment for the year — at least to date.

The following tables lists London precious metal prices from Friday PM to Friday PM:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
3/27/2009	927	924	13.22	1142	1131	220	215
4/3/2009	902	905	12.86	1153	1159	222	221

 

Dollar and Percent Changes Friday PM-Friday PM
3/27-4/3	Gold	Silver	Platinum	Palladium
$ Change	-$19.00	-$0.36	$28.00	$6.00
% Change	-2.1%	-2.7%	2.5%	2.8%

 

These articles offer week ending precious metals news:

• Gold falls as jobs report not as bad as feared – MarketWatch
  Gold futures fell Friday, extending weekly losses to 3%, after a less-grim-than-feared March jobs report sustained optimism over a global economic recovery, which has curbed demand for safe assets…

• Gold Futures Close Below $900 on Equity Rally; Silver Declines – Bloomberg
  Gold prices closed below $900 an ounce, capping the second straight weekly slide, on speculation that the U.S. economy will rebound, eroding the precious metal’s appeal as an alternative investment…

• The Fallout of the Doleout – Jon Nadler, Kitco
  Gold bullion suffered a second weekly setback with Friday’s 1.5% decline in prices. The metal has experienced London afternoon fixes under the $900 level only four times since January 30th….

• Bullion & Business Weekend Report – CoinNews

• Braille Silver Dollar Sales Near 41,000 – Silver Coins Today
  Silver coin sales climbed over the last several days, helped by the Braille Silver Dollars and the 2009 Quarters Silver Proof Set releases…