Silver Prices Tumble 5.3% in London, 5.9% in NY

The week was filled with a series of dark days for precious metals. Silver was the most depressed as prices tripped and then stumbled away from 2009 highs and a four-week winning streak. The metal retreated 5.9% in New York and 5.3% in London.

New York silver futures for December delivery closed Friday at $16.06 an ounce, plunging $1.01 for the week. It was the biggest weekly drop since February.

London silver was hit almost as hard. It sank 91 cents to close at $16.20 an ounce -- a far cry from the year's high of $17.38 reached on Thursday, Sept. 17. The good news is that silver is still up 50% this year when 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
9/18/2009	1014.00	1012.00	17.11	1326.00	1337.00	300.00	304.00
9/25/2009	997.00	991.50	16.20	1295.00	1281.00	295.00	293.00

 

Dollar and Percent Price Changes
	Up	Down	% Change	$ Change
Silver		X	-5.3%	-$0.91
Gold		X	-2.0%	-$20.50
Platinum		X	-4.2%	-$56.00
Palladium		X	-3.6%	-$11.00

 

These articles offer precious metals and silver coin news:

• Bullion & Business Weekend Report - CoinNews
  Precious metal prices turned south, ending the week down for the first time since mid-July. In notable declines, gold retreated below $1,000 an ounce, silver slipped toward $16, and platinum dropped under $1,290. New York oil futures turned ...

• Gold falls, down for the first week in six after mixed data - MarketWatch
  Gold futures fell Friday to near $990 an ounce, ending the week down for the first time in six weeks as investors digested mixed U.S. economic data. Holdings in the biggest gold …

• Gold Falls, Capping First Weekly Drop Since July; Silver Sinks - Bloomberg
  Gold fell, capping the biggest weekly decline since mid-July, as the metal's failure to reach a record discouraged investors who had bet on a longer rally. Silver tumbled …

• Baby, You Can Drive My Investment - Jon Nadler, Kitco
  Gold's largest weekly drop in more than two months was slightly mitigated by a small decline in the dollar during the overnight hours. The sell-off in the metal began on the heels of the Fed meeting on Wednesday, …

• Silver Eagles Strong in September, Despite Struggle - Silver Coins Today
  Collector silver coin sales remained mixed with a touch of unexciting, according to the latest US Mint sale figures. Bullion American Silver Eagles continue to struggle compared to prior 2009 months …

• US Mint Sales: Gold Coins and Proof Sets Excel in September - CoinNews
  Demand for gold coins and 2009 Proof Sets is turning out to be exceptionally high this September, US Mint sales data reveals. The latest weekly sales figures also show collector coins were mixed compared to the week prior, with very narrow up or down changes …

• Top Weekly Sellers: Proof First Spouse Coins - First Spouse Coins
  This week, two Proof versions of First Spouse Gold Coins were hot sellers in the series. Sarah Polk and Julia Tyler Proofs jumped by 339 and 218, respectively. Their uncirculated options didn't do bad either. Polk's climbed by 164 and …

• US Mint Intrinsic Silver Coin Values, 90% Silver Coins - Silver Coins Today
  Silver prices topped $17 an ounce, reaching 2009 highs during the third week of September. But even better for those with silver holdings, prices have jumped by more than $6 an ounce …

For daily silver news and prices, visit Silver Prices.

Related Silver or Coin News:

1. Weekly Silver Prices Tumble 3.3% in New York, 3.7% in London Silver prices turned lower to mark a second weekly negative trend following the metal's monstrous May surge. New York silver futures for July delivery plunged to close Friday at $14.875 an ounce, tumbling 51.3 cents or 3.3 percent on the week. Silver's picture in London was similar. London spot silver closed Friday at $15.07 an ounce, [...]...
2. Silver Prices Tumble 6.0% in London, 5.7% in New York Precious metal prices were hit hard this week, falling on the heels of a stronger U.S. dollar and sliding oil prices. Silver suffered one of the worst weeks of the year as it followed gold's decline. New York silver futures for September plunged 76.3 cents or 5.7% on the week to close Friday at $12.645 an [...]...
3. Weekly Silver Prices Rise 0.2% in London, Drop 0.5% in New York Precious metals were mixed this week as large price retreats on Monday were quietly chipped into on succeeding days, ending with solid boosts Friday. In terms of weekly silver numbers, the metal managed to break a three-week loosing streak in London while falling slightly in New York. New York silver futures for July [...]...