Silver Prices Fall in Fourth Week of March

Silver prices fell in both N.Y. and London during the fourth week of March.

New York silver futures for May delivery closed on Friday at $16.906 an ounce, falling 13 cents, or 0.7%, during the week. By comparison, the first, second and third weeks of this month registered gains / losses of +86 cents, -33.4 cents, and -2 cents. The metal is 2.3% higher in March.

London silver was fixed at $16.850 an ounce, falling 46 cents, or 2.7%, for the week. It is 4.5% higher in March. London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
3/19/2010	1121.50	1105.50	17.31	1623.00	1617.00	477.00	476.00
3/26/2010	1098.00	1096.50	16.85	1601.00	1596.00	458.00	456.00

 

Weekly Bullion Prices
	Up	Down	% Change	Gain/Loss
Silver		X	-2.7%	-$0.46
Gold		X	-0.8%	-$9.00
Platinum		X	-1.3%	-$21.00
Palladium		X	-4.2%	$20.00

 

These articles offer precious metals and silver coin news: In related silver and gold news, interesting or quick-read articles from the week include:

• Der Wiener Walzer Moves Counter-Clockwise – Jon Nadler, Kitco Metals Inc.
  Gold prices slipped a bit in overnight trading amid anemic Indian physical offtake and a further gain in the US dollar. The latter managed a climb back to very near the 80.50 mark on the trade-weighted index and pushed oil, base metals, and assorted other commodities a tad lower. The euro once again slid back towards the 1.35 value zone as no news of any resolution to the Greek problem was on tap for yet another day.

  Greece is still pedaling hard to obtain a clear promise of aid from the EU, but Germany continues to be holding out on the matter, and ‘confusion’ is being expressed by other members of the eurozone. It was suggested yesterday that Greece should perhaps try to get a lifeline from the IMF. Bond investors are still demanding that Greece pay three percentage points more than Germany on its 10-year debt, and the country’s Prime Minister warned that Greece can’t "afford to hold out much longer at current market rates." …

• US Mint Silver Product Sales Slow, Eagles Idle
  The latest round of United States Mint weekly sales figures show demand has decline for all silver coins and sets.

  Given that silver prices were mostly unchanged last week and have fallen this week, it’s not too surprising that sales of American Silver Eagle bullion coins would slow. However, the numbers go below slow. The US Mint has not reported a single new eagle sale since March 15, 2010. That is surprising.