Silver Prices Soar, Recording 2009 Highs with Near 10% Weekly Gains

Silver prices soared for the second straight week. The metal hit new 2009 highs, with both London and New York markets surging 9.7 percent and 9.9 percent, respectively.

New York silver futures for December delivery closed Friday to $16.285 an ounce and surged $1.47 for the week, the biggest increase of a most-active contract since May 8. The closing price on Thursday was a half penny higher, which was the highest price since Aug. 7, 2008.

London silver prices jumped $1.41 on the week, and follow last week’s advance of 53 cents. The metal was set to $15.95 an ounce, marking the highest level of 2009. London silver is up $5.16, or 47.8 percent this year as compared to the $10.79 closing price on Dec. 31, 2008.

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
8/28/2009	950.75	955.50	14.54	1234.00	1244.00	286.00	289.00
9/4/2009	987.25	989.00	15.95	1248.00	1250.00	290.00	290.00

 

Dollar and Percent Price Changes
	Up	Down	% Change	$ Change
Silver	X		9.7%	$1.41
Gold	X		3.5%	$33.50
Platinum	X		0.5%	$6.00
Palladium	X		0.3%	$1.00

 

These articles offer precious metals and silver coin news:

• Bullion & Business Weekend Report – CoinNews
  Precious metals prices glowed for a second consecutive week, with silver blazing a trail of hot fire and gold surging toward $1,000 an ounce. New York crude futures rose slightly Friday but had their worst weekly loss in nearly two months. In other markets, both U.S. and European stocks ended the week lower …

• Gold falls first day in four after rallying near $1,000 an ounce – MarketWatch
  Gold futures edged lower Friday for the first day in four, after rallying near $1,000 an ounce in the previous session, as a jobs report that fell largely in line with expectations …

• Gold Trades Near Six-Month High as Dollar Falls; Silver Slips – Bloomberg
  Gold was little changed, trading near a six-month high in New York as the dollar weakened, boosting the appeal of the metal as an alternative asset. Silver declined from a 13-month high …

• Labor Day Before Labour Day – Jon Nadler, Kitco
  Price ranges narrowed and action turned somewhat calmer in overseas precious metals markets overnight. The approach of the long weekend in the US and the imminent release of labour statistics …

• US Coin Sales: Lincoln Proof Sets Top 66K, Clad Near 1M – CoinNews
  US Mint sales data this week provides a first glimpse into Lincoln Proof Set numbers. They also show higher demand for UHR coins even before the 25-coin limit increase. And they indicate …

• First Spouse Coin Weekly Sales, Gold Coin Prices Rise – First Spouse Coins
  The newest Julia Tyler First Spouse Coins were again the biggest US Mint sellers. The proof and uncirculated options climbed by 217 and 133, respectively. Van Buren’s Liberty proof performed …

• Weekly Sales Figures for US Mint Silver Coins – Silver Coins Today
  With the exception of Silver Eagles, US Mint silver coin sale figures were less than exciting for the last seven days ending Sunday, Aug. 30. The 2009 Silver Proof Set was the biggest gainer in collector coins …

• Silver Eagles Sales Best August Ever, Gold Eagles Fourth – CoinNews
  The United States Mint sold 2.13 million Silver Eagles and 82,000 Gold Eagles during the month of August. Pretty impressive. Still, if these numbers seem lower than those from July or June, that’s because they are. From that fact alone, it would be easy to conclude that gold and silver eagle coin demand is on the retreat. But that wouldn’t exactly be accurate …

• Record 2.13M Silver Eagle Sold in August – Silver Coins Today
  American Silver Eagle Coins hit another new record last month. The US Mint sold 2.13 million of the bullion coins, which is the most ever for an August month. That may surprise those who watch the series, given the total is actually down substantially — 24.2 percent — from July’s record 2.81 million. Further, while July ranked as the second best 2009 month for the eagles, August sales are actually …

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