Silver Prices Soar in NY and London

Despite ending lower on Friday, silver prices blasted off this week with London silver surging 8.8 percent and New York silver soaring 9 percent. To the numbers…

New York silver futures for December delivery closed Friday at $17.69 an ounce, jumping $1.46 from last Friday’s close of $16.23.

London silver roared ahead $1.42 on the week to end Friday at $17.63. The metal is up an incredible 63.4 percent for the year as compared to the $10.79 closing price on Dec. 31, 2008

"There are better opportunities in silver and palladium," Jim Rogers, a famed investor known for his bullish calls on commodities, was quoted Thursday on MarketWatch. "Silver is still 70% below its all-time high,” while palladium, standing at around $310 an ounce, is also much lower than its high above $1,000 an ounce hit in early 2001."

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
10/2/2009	998.00	1003.50	16.21	1275.00	1269.00	291.00	292.00
10/9/2009	1046.75	1051.50	17.63	1335.00	1337.00	323.00	323.00

 

Dollar and Percent Price Changes
	Up	Down	% Change	$ Change
Silver	X		8.8%	$1.42
Gold	X		4.8%	$48.00
Platinum	X		5.4%	$68.00
Palladium	X		10.6%	$31.00

 

These articles offer precious metals and silver coin news:

• Bullion & Business Weekend Report – CoinNews
  Gold, silver and platinum prices soared on the week as the US dollar showed weakness. The metals on Friday, however, fell slightly in New York after the dollar was boosted following Federal Reserve Chairman Ben Bernanke’s comments that the monetary policy would tighten eventually …

• Gold futures slump as Bernanke talk lifts dollar – MarketWatch
  Gold futures finished lower on Friday, but finished the week sharply higher, as the dollar gained back some ground after Federal Reserve Chairman Ben Bernanke said loose monetary policy will end eventually …

• Gold Pares Weekly Gain as Stronger Dollar, Rally Spur Sales – Bloomberg
  Gold prices dropped, paring the biggest weekly advance since April, as a stronger dollar cut demand and some investors sold the metal to lock in gains from its climb to a record …

• Jawboning (and More) by Proxy – Jon Nadler, Kitco
  Gold prices dipped to under the $1050 level overnight, and for the better part of Friday’s NY session, as interest rate hike-oriented comments by Fed Chairman Bernanke lifted the US dollar and dampened enthusiasm in crude oil and other commodities as well (such as copper). On Wednesday, we warned that ‘shoe-pounding’ style dollar-oriented statements might come from Mr. Bernanke following the resounding lack of success of the pro-dollar jawboning attributed Mr. Geithner within the last week …

• Ultra High Relief Gold Coin Sales History – CoinNews
  2009 $20 Ultra High Relief Gold Double Eagle sales exploded with a sizzling 28,183 purchased by the end of its Jan. 22 launch day. Action continued to be strong despite the initial $1,189.00 price, which is now considered a dreamy bargain for buyers in today’s market. By the following Tuesday, Jan. 27, the number jumped to 41,664. How have they done since? A week-by-week analysis paints the picture …

• Van Buren Liberty First Spouse Coins Hit Milestones – First Spouse Coins
  Sales fell down for all but one of the ten available US Mint First Spouse Gold Coins, according to the latest Mint sales data. While last week’s report showed half of the coins with triple digit increases, this week only showed one – the Sarah Polk Proof coin. It jumped by 149 …

• US Mint Silver Coin Sales – Silver Coins Today
  Sales of US Mint Silsver Coins improved, rising from the prior week’s data that showed collector demand retreated slightly. The biggest gainer was the 18-coin 2009 Silver Proof Set, which popped up another 14,352 to register year-to-date sales of 521,060. The previous weekly increase was about 1/3 lower at 9,432 (although enough to push the sets over 500K). Extra focus on the 18-coin Silver Proof set may …

• Gold & Silver Eagles Cancelled, Buffalo & Platinum Eagles Scheduled – CoinNews
  The United States Mint announced today that it will offer for sale 2009 one-ounce American Buffalo Proof Gold Coins and one-ounce American Eagle Platinum Proof Coins. The release dates for these products are tentatively October 29 and December 3, 2009, respectively. In addition, the agency will release the one-ounce 2009 American Buffalo Gold Bullion Coin on October 15 and the fractional 2009 American Eagle Gold Bullion Coins-in the one-half ounce, one-quarter ounce, and one-tenth ounce weights-on December 3 …

• 2009 Silver Eagle Coins Cancelled – Silver Coins Today
  n a stunning announcement today, the United States Mint said it will not offer 2009 Proof Silver Eagles nor 2009-W Uncirculated Silver Eagle coins. The news is a bitter pill to swallow for some collectors who will now forever see a hole in their Silver Eagle collection which dates back to 1986. The US Mint decision, however disappointing, is not entirely surprising given the enormous demand of the bullion versions …

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