Silver Prices Rise 0.4% in New York, but Falls 1.1% in London

Silver broke a two-week winning streak in London but managed an impressive 45.5 cent surge in the later closing New York market to finish a few cents higher there on the week.

New York silver futures for September delivery rose 6 cents on the week to close Friday at $13.94 an ounce, marking a weekly gain of 0.4 percent. The front-month contract rose 2.7 in July.

London silver edged up earlier in the week before dropping on Wednesday and Thursday. The metal recovered some of the losses Friday and was fixed to $13.63 an ounce. On a weekly basis, it fell 15 cents, or 1.1 percent. London silver dropped 2.2 percent in July, but has gained $2.84, or 26.3 percent this year.

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
7/24/2009	949.75	951.50	13.78	1180.00	1186.00	257.00	258.00
7/31/2009	936.50	939.00	13.63	1186.00	1189.00	258.00	256.00

 

Dollar and Percent Price Changes
	Up	Down	% Change	$ Change
Silver		X	-1.1%	-$0.15
Gold		X	-1.3%	-$12.50
Platinum	X	X	0.3%	$3.00
Palladium		X	-0.8%	-$2.00

 

Silver is down from its peak in May when it jumped $4.73, or 43.8 percent in London. These articles offer precious metals and silver coin news:

• Bullion & Business Weekend Report – CoinNews
  Precious metals ended mixed Friday with little movement as dips on Tuesday and Wednesday were flattened by mini spikes on Thursday and Friday. The U.S. dollar and oil traveled the week as if riding a roller coaster. Yet gold moved in a relative narrow range. The metals showed a touch of vibrancy by week’s end as New York futures, in particular, closed strong…

• Gold rises as dollar weakens after U.S. GDP data – MarketWatch
  Gold futures rose 2% Friday to end above $950 an ounce, as the U.S. dollar weakened after the release of U.S. gross-domestic-product data, raising gold’s appeal as an alternative investment…

• Gold Erases Gains in New York, London After Consumption Drops – Bloomberg
  Gold erased gains in London and New York after the U.S. reported a drop in personal consumption, paring a drop in the dollar. U.S. personal consumption fell 1.2 percent in the second quarter, the Commerce Department said…

• Clunker Nation – Jon Nadler, Kitco
  Well, we made it to this Friday, and the last day of July only to have been greeted by a plethora of economic statistics and assorted other data that ended up making for a very active trading day. First out of the gate this morning, news that stag-deflation is still gripping…

• US Mint Coin Sales: Proof Sets Dominate, Silver Eagles Reach Record – CoinNews
  Proof sets could hardly perform better for the US Mint and bullion silver eagles continue to flash forward at a striking pace. The numbers do the talking: In a single week, 37,232 more Mint Proof Sets sets were sold, bringing the total to 888,329 since June 1…

• US First Spouse Gold Coin Sales Rise – First Spouse Coins
  US Mint First Spouse Gold Coin sales improved ever so slightly compared to the last reading reported on July 22. Then, six of eight coins retreated in sales. The newest US Mint figures show four of eight coins gained, one was unchanged and three declined, when comparing…

• Silver Proof Sets Jump, US Eagles Score 2nd Best Month – Silver Coins Today
  Silver coin news of the week is the smashing success for 2009 Silver Proof Sets and bullion 2009 American Silver Eagle Coins. The latter passed 16 million this year — 16,409,500 to be exact! With July not yet over, silver eagles have already entered the record book for the second best month in 2009 with a total of…

• Gold and Silver Eagle Bullion Coins Move Slower – Coin Sales Figures
  The sales pace of American Eagle Gold and Silver Bullion Coins eased during the last seven days, new US Mint figures reveal. Silver eagle sales were still brisk, but at their slowest Monday to Monday level of the month and they increased by a bit more than half of the 800,000 from the week prior…

For daily silver news and prices, visit Spot Silver.