Silver Prices Rise Nearly 7% for the Week

London silver finished higher on the week for the fifth straight time, as precious metals shined with solid gains ranging from 1.4 percent to 6.8 percent — the latter being silver. The metal broke the $14 barrier on Wednesday and maintained momentum, climbing 91 cents above last Friday’s close to finish at $14.28 an ounce.

In New York, silver futures for March delivery rose 55 cents, or 4%, to $14.49 an ounce. It has surged an impressive 28 percent for the year.

The following tables list precious metal prices from Friday PM to Friday PM:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
2/13/2009	939.25	935.50	13.37	1063	1055	215	213
2/20/2009	981.00	989.00	14.28	1083	1086	216	216

 

Dollar and Percent Changes Friday PM-Friday PM
2/13-2/20	Gold	Silver	Platinum	Palladium
$ Change	53.50	0.91	31.00	3.00
% Change	5.7%	6.8%	2.9%	1.4%

 

These articles offer week ending precious metals news:

• Gold tops $1,000 for first time in nearly a year – MarketWatch
  Gold futures closed above the key $1,000 mark Friday for the first time in nearly a year, with the global financial and economic worries boosting the safe-haven appeal of the precious metal.

• Gold Tops $1,000, Highest Since March, as Global Equities Slide – Bloomberg
  Gold surpassed $1,000 an ounce in New York for the first time in almost a year as investors, hurt by plunging stocks and a deepening recession, sought to protect their wealth.

• Weekend Report: Silver, Gold, Platinum and Stock Prices – CoinNews
  Precious metals surged forward with New York gold rising above $1,000 Friday for the first time in nearly a year. For the week, the London gold fixing gained 5.7 percent, silver jumped 6.8 percent and platinum climbed 2.9 percent. The Dow lost 6.2 percent, the S&P declined 6.9 percent and the Nasdaq fell 6.1 percent. European stocks closed at 6-year lows.