Silver Prices Jump more than 4% for Week

Precious metal prices soared in the middle of the week as news of the Feds plan to buy $1 trillion in securities sparked inflation fears, which is almost always positive for inflation-hedging commodities.

New York silver futures for May surged 62.5 cents, or 4.7 percent, to $13.84 an ounce. It closed last Friday at $13.215 an ounce.

London silver was on fire as well. In spot trading, the London silver fixing ended the week at $13.65 an ounce for a 54 cent, or 4.1 percent, gain.

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
3/13/2009	920	928	13.11	1050	1048	197	198
3/20/2009	957	954	13.65	1118	1110	207	206

 

Dollar and Percent Changes Friday PM-Friday PM
3/13-3/20	Gold	Silver	Platinum	Palladium
$ Change	$26.00	$0.54	$62.00	$8.00
% Change	2.8%	4.1%	5.9%	4.0%

 

These articles offer week ending precious metals news:

• Gold slips as dollar rises, but gains 2.8% in week – MarketWatch
  Gold futures fell slightly Friday after rallying nearly 8% in the previous session, as a rebounding U.S. dollar reduced the metal’s investment appeal…

• Gold Falls in New York as Dollar Rebounds; Silver Advances – Bloomberg
  Gold fell after the dollar rebounded, eroding the appeal of the precious metal as an alternative investment. Silver advanced…

• Modern Alchemy: Turning Gold Into Paper – Jon Nadler, Kitco
  Friday’s action offered no more than a mixed bag of goodies for most markets. The greenback rose (last seen at 83.83 on the index) on account of the fact that some traders viewed the decline recorded…

• 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 Stats – Mar 19 – Silver Coins Today
  Sales were a tad more quiet for the silver Lincoln Dollars compared to the last reported US Mint figures, but still extremely active.