Silver Prices Decline more than 3% for Week

It was a mixed bag of news for precious metals on the week. Silver and gold fell while platinum and palladium climbed. By week’s end, silver lost a sizable chunk of last week’s gains.

New York silver futures for May fell 57.7 cents, or 4.2 percent, to $13.263 an ounce. The metal closed last Friday at $13.84.

The London market for silver dropped as well, but not as much. In spot trading, the London silver fixing ended the week at $13.22, losing 43 cents or 3.2 percent.

The following tables lists London precious metal prices from Friday PM to Friday PM:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
3/20/2009	957	954	13.65	1118	1110	207	206
3/27/2009	927	924	13.22	1142	1131	220	215

 

Dollar and Percent Changes Friday PM-Friday PM
3/20-3/27	Gold	Silver	Platinum	Palladium
$ Change	-$30.00	-$0.43	$21.00	$9.00
% Change	-3.1%	-3.2%	1.9%	4.4%

 

These articles offer week ending precious metals news:

• Gold ends lower on stronger dollar – MarketWatch
  Gold futures fell Friday, extending losses for the week to more than 3% as the U.S. dollar gained ground against most of its major rivals, reducing the metal’s investment appeal…

• Gold ends lower as dollar rises; ETF at record – Reuters
  Gold fell on Friday as precious metals came under pressure from a strengthening dollar and reduced safe-haven demand after recent U.S. steps to stem an economic crisis…

• The NEW Rules of the Game – Jon Nadler, Kitco
  Gold prices lost more than 1.25% ($12) of the ground they occupied in the early hours of the day, and sank closer to $920 ahead of the NY market’s opening…

• Lincoln Silver Dollars and Cent Rolls Sell Out – CoinNews
  The uncirculated Lincoln Silver Dollar sold out Tuesday, the Lincoln Cent Birthplace Rolls sold out Thursday, and the proof Lincoln dollar joined the sellout list Friday morning.

• Weekend Report: Silver, Gold, Platinum and Stock Prices – CoinNews
  After dipping earlier in the week, gold turned upward to regain some positive footing. For the week, the London gold fixing still finished lower, however, falling 0.9 percent. Silver lost 2.6 percent and platinum declined 2.1 percent.

• US Mint Silver Coin Sales Drop – Silver Coins Today
  Fewer collectors have been buying United States Mint silver coins and sets lately, according to the latest Mint sales stats…