Silver Prices Rally Friday: 3.8% London Weekly Gain; 4.4% in N.Y.

In a week of seesaw action, silver prices rallied on Friday to finish with weekly gains of 3.8 percent in London and 4.4 percent in New York.

For the week, New York silver prices for September delivery jumped 62 cents, to close at $14.784 an ounce. The metal started the week strong, lost air and mostly flattened in mid-week, and finally soared Friday with a 56.4 cent gain.

London silver prices jumped 53 cents on the week. Following a rise on Monday to $14.41, silver dipped to $14.11, recovered to $14.32, dipped again to $14.20, and then surged Friday to $14.54 an ounce.

London silver is up $3.75, or 34.75 percent, this year following the $10.79 closing price on Dec. 31, 2008. It is down from its peak in May, however, when it jumped higher by $4.73, or 43.8 percent.

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
8/21/2009	941.50	952.50	14.01	1232.00	1239.00	272.00	275.00
8/28/2009	950.75	955.50	14.54	1234.00	1244.00	286.00	289.00

 

Dollar and Percent Price Changes
	Up	Down	% Change	$ Change
Silver	X		3.8%	$0.53
Gold	X		0.3%	$3.00
Platinum	X		0.4%	$5.00
Palladium	X		5.1%	$14.00

 

These articles offer precious metals and silver coin news:

• Bullion & Business Weekend Report – CoinNews
  Precious metals gleamed brighter this week, with silver sparkling the most while gold and platinum edged out modest gains. New York crude futures rose in volatile trading Friday, but ended down on the week. In other markets …

• Gold rises 1.2% to erase week’s losses; silver, copper rally – MarketWatch
  Gold futures rose 1.2% Friday, erasing their weekly losses after the release of data on U.S. consumer confidence and spending, while copper and silver rallied. Consumers’ …

• Gold Rises on Investment Demand; Silver Jumps Most Since May – Bloomberg
  Gold futures rose to a three-week high on signs of increasing investor demand. Silver had the biggest gain in almost four months. Gold assets in exchange-traded funds monitored by UBS AG are "98 percent of the all-time highs," the bank said today in a report. Holdings in …

• W(h)ither Hindustan? – Jon Nadler, Kitco
  At first glance, Friday appeared to be once again shaping up as an oil-driven kind of day in the precious metals pits. Gains of from half to three-quarters of a dollar in black gold were initially seen sustaining incremental …

• US Mint Sales: 2009 Proof Sets Top 975K, UHRs Near 83K – CoinNews
  US Mint coin sales trended slightly lower last week with the exception of silver coin demand which was on the rise. Frankly, no numbers unexpectedly shouted and said “look at me.” Here are several highlights, plus a few topics …

• First Spouse Coin Sales Retreat, Jackson’s Spike – First Spouse Coins
  First Spouse Gold Coin sales mostly declined with only three of the nine U.S. Mint gold commemoratives showing improvements compared to the prior report. As mentioned last week, when the proof Andrew Jackson Liberty’s …

• US Mint Weekly Silver Coin Demand Climbs – Silver Coins Today
  Collector silver coin sales increased for all but one US Mint offering during the seven days ended Aug 23, new sales figures from the Mint reveal. The sole under performer was the 2008-dated Annual Uncirculated Dollar Coin Set. 644 new sets were purchased compared to …

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