Silver Reverses Losses, Rises 2.9% in New York

Silver prices in New York reversed prior week losses and rose 2.9% for the week. Earlier setting London silver, however, finished down 2.5%.

Driving U.S. gold higher was a weakened dollar that ended a six day rally versus the euro. Silver often follows gold.

By Friday’s close, May silver futures ended at $18.192 an ounce for a daily increase of 18.3 cents and a weekly gain of 52 cents.

The London Silver Fix closed on Friday to $17.890 an ounce, falling 46 cents or 2.5% for the week. The week’s highest point was on Tuesday when it hit $18.00 an ounce. The weekly low of $17.500 an ounce came on the prior day.

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
4/16/2010	1157.00	1151.50	18.350	1720.00	1708.00	542.00	532.00
4/23/2010	1140.00	1139.50	17.890	1733.00	1725.00	560.00	555.00

 

London Weekly Bullion Prices
	Up	Down	% Change	Gain/Loss
Silver		X	-2.5%	-$0.46
Gold		X	-1.0%	-$12.00
Platinum	X		1.0%	$17.00
Palladium	X		4.3%	$23.00