Silver Rises 2.3% in London, 0.4% in New York

August 15, 2009 by · Leave a Comment 

Weekly Silver UpdateSilver spent Monday through Wednesday sliding. The metal then surged Thursday only to slip back Friday. By week’s end, however, silver managed to muster gains in both London and New York.

For the week, New York silver futures rose 5.4 cents, or 0.4 percent, to close at $14.722 an ounce.

London silver climbed 33 cents, or 2.3 percent. The metal was fixed at week’s end to $14.98 an ounce.

"Thanks to its widespread industrial use, silver benefits, even more than gold, from current economic hopes," analysts led by Barbara Lambrecht at Commerzbank, was quoted on MarketWatch. "Furthermore, in contrast to gold, investors continue to show strong interest in silver."

London precious metal weekly prices follow:

London Fix Precious Metal Prices

Gold
Silver
Platinum
Palladium
AM
PM
AM
PM
AM
PM
8/7/2009 960.50 956.00 14.65 1237.00 1260.00 270.00 271.00
8/14/2009 957.50 953.60 14.98 1271.00 1267.00 276.00 277.50

 

Dollar and Percent Price Changes
Up
Down
% Change
$ Change
Silver X  
2.3%
$0.33
Gold   X
-0.3%
-$2.40
Platinum X  
0.6%
$7.00
Palladium X  
2.4%
$6.50

 

London silver is up $4.19, or 38.8 percent, this year following the $10.79 closing price on Dec. 31.

These articles offer precious metals and silver coin news:

  • Bullion & Business Weekend Report – CoinNews
    Precious metals traded within a narrow weekly range, ending mix with gold slightly lower and silver higher. Crude-oil plunged this week with the biggest loss on Friday following an unexpected drop in consumer confidence, which was also cited for pulling down US stocks. European stocks ended lower on the week as well…
  • Gold falls on CPI data; silver retreats from two-month high – MarketWatch
    Gold futures fell Friday and ended the week down for the first week in five, as U.S. consumer prices showed the sharpest year-over-year decline in nearly 60 years during July, reducing the precious metal’s appeal as a hedge against inflation…
  • How Sweet IS It? – Jon Nadler, Kitco
    A further 3% overnight drop in the Shanghai market helped the dollar-yen duo regain some lost ground as investors chose the two currencies a bit of a safe-haven nod. The action was not very aggressive, and this morning’s dollar index was still showing a bit of red…
  • Julia Tyler First Spouse Coins Lead Gold Series Sales – First Spouse Coins
    First Spouse Gold Coins are shining a bit brighter of late. New US Mint figures show sales improved across all options. Julia Tyler spouse coins were the trophy winners, earning the top two spots for most sold. The US Mint placed the $10 gold pieces on sale Thursday, August 6. By Sunday, August 9, collectors purchased 1,539 proof and 830 uncirculated…
  • 2009 Silver Proof Set Sales Top 460,000 – Silver Coins Today
    When it comes to US Mint silver coin offerings, 2009 Silver Proof Sets and bullion American Silver Eagles are today’s stars. Their weekly sales figures jumped to the top in sparkling fashion. Collectors have purchased 630,000 silver eagles in August, up by 430,000 from last Wednesday, Aug. 5. The yearly tally is now at 17,246,500.
  • Bullion Silver Eagles Top 17 Million, Gold Eagles at 770,500 – Coin Sales Figures
    Despite a reduction in US bullion coin demand in the last seven days compared to the prior week, American Silver Eagles have topped a new milestone of more than 17 million sold in 2009. Sales of the silver eagles did rise by 380,000, but that is actually less than the 485,000 increase seen during …

For daily silver news and prices, visit Silver Prices.


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