Silver Prices Rise 0.1% in London, 0.4% in N.Y.

Silver managed modest gains for the week, rising less than a percent in both New York and London — well off the respective 11.6 percent and 14.4 percent increases from the prior week.

London spot silver closed Friday at $13.92 an ounce, rising 2 cents or, 0.1 percent this week. However, silver is 29 percent higher for the year, as the metal has gained $3.13 from the $10.79 closing price on December 31.

Meanwhile, New York silver for July delivery closed on Friday at $14.01 an ounce, rising 5.5 cents, or 0.4 percent this week.

Here are week changing London precious metal prices:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
5/8/2009	917.50	907.00	13.90	1154.00	1149.00	241.00	242.00
5/15/2009	925.00	929.50	13.92	1116.00	1109.00	225.00	224.50

 

Dollar and Percent Changes
	Up	Down	% Change	$ Change
Silver	X		0.1%	$0.02
Gold	X		2.5%	$22.50
Platinum		X	-3.5%	-$40.00
Palladium		X	-7.2%	-$17.50

 

These articles offer week ending precious metals and silver coin news:

• Gold rises on higher core CPI; copper falls – MarketWatch
  Gold futures reversed earlier losses Friday, rising slightly to extend their weekly gains as newly released data showed a price gauge excluding food and energy prices rose in the past year, stirring inflation worries…

• Gold Climbs in N.Y. as Equity Rally May Stall; Silver Declines – Bloomberg
  Gold prices rose, extending a rally to two weeks, as investment demand increased on rising consumer prices and signs that a rally in U.S. equities may be ending. Silver futures fell…

• Anticipation…It’s Keepin’ Me Waitin – Jon Nadler, Kitco
  Friday’s action in the metals pits appeared to echo the patterns seen in previous sessions. That is, a gold price that (up to now) still shows it has difficulties overcoming the $930 value zone in a convincing manner, a crude oil price which exhibits similar stalling patterns above $60 per barrel…

• Bullion & Business Weekend Report – CoinNews
  Commodities split directions this week. London gold rose 2.5 percent and silver gained 0.1 percent while platinum fell 3.5 percent and crude-oil ended down for the first week in four. U.S. stocks retreated as well, marking the first weekly decline in all three major indexes in 10 weeks. European stocks also ended lower…

• US Silver Coin Sales – Silver Coins Today
  Excluding 2009 Quarters Silver Proof Sets, demand for US silver collector coins tumbled based on the latest United States Mint sales report. Taking the biggest hit were Braille Silver Dollars. Sales of the coins did show slippage in last week’s report…

For daily news and prices, visit Silver Spot Prices.