Silver Prices Surge, Reaching Fresh ’09 Highs in N.Y. and London

Silver prices surged to fresh 2009 highs in both London and New York with respective 5.9 percent and 2.5 percent gains, marking a third consecutive week of advances.

New York silver futures for December delivery closed Friday at $16.700 an ounce, rising 41.5 cents for the week. The metal reached a top of $17.015 which was the highest price since Aug. 5, 2008. Silver futures soared $1.47, or 9.9 percent, in New York last week.

London silver surged 94 cents on the week after a $1.41 gain the week prior. The metal was set to the highest point of the year at $16.89 an ounce. London silver is now up $6.10, or 56.5 percent this year as compared to the $10.79 closing price on Dec. 31, 2008.

"Silver has benefited from positive investment demand and a potential recovery in industrial demand" from signs of economic growth, according to Suki Cooper, an analyst at Barclays Capital in London who was quoted at Bloomberg.com.

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
9/4/2009	987.25	989.00	15.95	1248.00	1250.00	290.00	290.00
9/11/2009	998.25	1008.25	16.89	1287.00	1292.00	291.00	292.00

 

Dollar and Percent Price Changes
	Up	Down	% Change	$ Change
Silver	X		5.9%	$0.94
Gold	X		1.9%	$19.25
Platinum	X		3.4%	$42.00
Palladium	X		0.7%	$2.00

 

These articles offer precious metals and silver coin news:

• Bullion & Business Weekend Report – CoinNews
  Precious metals prices jumped for a third straight week with silver again rising the most while gold topped the psychological $1,000 an ounce barrier. New York crude futures tumbled Friday yet pulled out a weekly gain of nearly 2 percent. U.S. stocks marked a positive week (despite Friday losses) as did European stocks …

• Gold ends at record high of $1,004 as dollar weakens – MarketWatch
  Gold futures settled at a new record Friday, ending higher for a fourth straight week as the U.S. dollar fell against the euro to a fresh one-year low, boosting gold’s investment appeal. The thinly traded September gold …

• Gold Climbs to 18-Month High as Dollar Weakens; Silver Gains – Bloomberg
  Gold surged to the highest price since March 2008 and a record close as the dollar extended its longest slide in six months, boosting demand for the metal as a hedge against inflation. Silver reached …

• Hedge-Trimmers Get a Haircut – Jon Nadler, Kitco
  Gold prices climbed back above the $1,000 mark in overnight trade, after reports showing that China’s economy is on an apparently stronger than strong track motivated global investors to once again seek …

• America the Beautiful Silver Coins – Silver Coins Today
  America the Beautiful Quarters took center stage Wednesday when the US Mint announced the new program to an awaiting public. With a ton of fanfare about the list of national parks and sites the new quarters will feature, it was easy to miss the Mint’s same-day introduction of the America the Beautiful Silver Bullion Coins …

• US Mint Sales: Clads Over 1M, Lincoln Cent Proof Sets Top 100K, UHRs Pass 90K – CoinNews
  US Mint coin sales increased across the board, except for a few gold coin and roll stragglers that fell behind their previous pace. Proof sets and silver coins shined the brightest. And a couple of notable barriers were smashed to rubble.
  Several sales highlights follow …

• Sarah Polk First Spouse Gold Coins Inaugural Sales – First Spouse Coins
  Sarah Polk First Spouse Coin sales began Thursday afternoon, and in only a few days, it was the most popular spouse coin for the week. Sarah Polk’s proof version reached 1,684 and the uncirculated made it to 921.The price of gold has been at its highest level since …

• US Mint Silver Coins Sales Rise, Eagles Top 19 Million – Silver Coins Today
  US Mint collector silver coins and set sales picked up nicely, no doubt helped by recent soaring silver prices. Bullion Silver Eagles settled down some from their roaring pace last week, but they are still on fire. Let’s get to some of the numbers …

For daily silver news and prices, visit Silver Prices.