Silver Soars 9.6% in N.Y., 6.7% in London

Silver snapped a four-week losing streak as the metal soared 6.7 percent in London and 9.6 percent New York.

London spot silver ended the week at $12.78 an ounce, reaching a level not seen since a $12.935 high on April 15. The metal jumped 80 cents over last Friday's fix of $11.98.

In New York trading futures Friday, silver for May delivery ended at $12.92, surging $1.13 higher following last week's $11.79 close.

Here are week changing London precious metal prices:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
4/17/2009	872.00	870.50	11.98	1213	1215	234	233
4/24/2009	909.00	907.50	12.78	1181	1175	234	233

 

Dollar and Percent Changes
	Up	Down	% Change	$ Change
Silver	X		6.7%	$0.80
Gold	X		4.3%	$37.00
Platinum		X	-3.3%	-$40.00
Palladium			0.0%	$0.00

 

These articles offer week ending precious metals news:

• Gold rises on China reserves; copper tumbles in week - MarketWatch
  Gold futures rose Friday, marking their first week of gains in five, boosted by news that China has nearly doubled its gold reserves since 2003 to the world’s fifth largest…

• Gold Climbs to Three-Week High on China Purchases; Silver Gains - Bloomberg
  Gold futures jumped to a three-week high in New York, marking the first weekly gain in a month, as China increased purchases of the metal. Silver also rose…

• 91 Tonnes of Gold [per annum] on the [Great] Wall… - Jon Nadler, Kitco
  Gold prices underwent a fourth weekly decline, making this their longest losing streak since August of 2008. The global rally in equities has bitten into the enthusiasm with which takers were willing to…

• Bullion & Business Weekend Report - CoinNews
  Precious metals swapped positions this week, breaking away from a prior four-week trend where platinum gained as gold and silver declined. For this week, London gold gained 4.3 percent, silver soared 6.76 percent, and platinum dropped 3.3 percent. Oil futures rallied Friday to push above $50 a barrel, gaining 2.4 percent on the week. Declines for the blue-chip Dow and the S&P snapped a six-week winning streak, but the Nasdaq is now up for week seven...

• US Silver Coin Sales Stats - Silver Coins Today
  Interest in Braille Bicentennial Silver Dollars picked up over the prior sales stats, but demand for other silver coins and sets waned for the third straight week, according to the newest United States Mint sales figures…

For daily news and prices, visit Spot Silver Prices.

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