Silver Prices Soar 5.3% in London, 4.9% in N.Y.

Precious metal prices were higher this week, with silver surging forward following only modest gains from the week prior.

New York silver for July delivery ended Friday at $14.695 an ounce, jumping 68.5 cents, or 4.9 percent this week. The metal gained 0.4 percent the week prior.

London spot silver closed Friday at $14.66 an ounce, rising 74 cents or, 5.3 percent this week. It was up just 0.1 percent the previous week. Silver in London is up an impressive 35.9 percent this year, as it has gained $3.87 from the $10.79 closing price on December 31.

Here are week changing London precious metal prices:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
5/15/2009	925.00	929.50	13.92	1116.00	1109.00	225.00	224.50
5/22/2009	952.50	959.75	14.66	1145.00	1149.00	231.00	234.00

 

Dollar and Percent Changes
	Up	Down	% Change	$ Change
Silver	X		5.3%	$0.74
Gold	X		3.3%	$30.25
Platinum	X		3.6%	$40.00
Palladium	X		4.2%	$9.50

 

These articles offer week ending precious metals and silver coin news:

• Gold tops $960 for first time in two months as dollar weakens – MarketWatch
  Gold futures rose Friday for a fourth-straight session, briefly topping the $960-an-ounce mark for the first time in nearly two months as the U.S. dollar weakened against its major rivals on concerns over the U.S. credit rating…

• Gold Jumps to Two-Month High, Third Weekly Gain on Weak Dollar – Bloomberg
  Gold rose to the highest in two months, gaining for a third consecutive week, as the slumping dollar and higher oil prices boosted the metal’s appeal as an alternative investment. Silver soared to a nine-month high…

• This is Gross, Obviously – Jon Nadler, Kitco
  The week’s hot gold rally kept its running shoes on overnight and built on gains prior to this morning’s NY opening. Gold maintained its pace within the $950-960 zone as the dollar rolled further downward, nearing 80 on the index, and as crude oil hovered above $61 per barrel…

• Bullion & Business Weekend Report – CoinNews
  It was a banner week for precious metals and oil. London gold rose 3.3 percent, silver surged 5.3 percent, platinum jumped 3.6 percent and crude-oil soared 8.2 percent. U.S. stocks gained as well. The Dow and S&P rose for a ninth weekly gain in eleven weeks and the Nasdaq is up for ten of the past eleven weeks. European stocks were higher as well…

• US Silver Coin Sales – Silver Coins Today
  2009 Quarters Silver Proof Sets were the only collectors silver coins to show better sales last week compared to the week prior. In the newest US Mint sales report, everything reversed. New sales of the sets declined compared to prior numbers while all other coins showed improved gains – albeit slightly…

For daily silver news and prices, visit Silver Spot Prices.