Silver Prices Tumble 5.3% in London, 5.9% in NY

September 26, 2009 by · Leave a Comment 

Weekly Silver UpdateThe week was filled with a series of dark days for precious metals. Silver was the most depressed as prices tripped and then stumbled away from 2009 highs and a four-week winning streak. The metal retreated 5.9% in New York and 5.3% in London.

New York silver futures for December delivery closed Friday at $16.06 an ounce, plunging $1.01 for the week. It was the biggest weekly drop since February.

London silver was hit almost as hard. It sank 91 cents to close at $16.20 an ounce — a far cry from the year’s high of $17.38 reached on Thursday, Sept. 17. The good news is that silver is still up 50% this year when compared to the $10.79 closing price on Dec. 31, 2008.

London precious metal weekly prices follow:

London Fix Precious Metal Prices

Gold
Silver
Platinum
Palladium
AM
PM
AM
PM
AM
PM
9/18/2009 1014.00 1012.00 17.11 1326.00 1337.00 300.00 304.00
9/25/2009 997.00 991.50 16.20 1295.00 1281.00 295.00 293.00

 

Dollar and Percent Price Changes

Up
Down
% Change
$ Change
Silver   X
-5.3%
-$0.91
Gold   X
-2.0%
-$20.50
Platinum   X
-4.2%
-$56.00
Palladium   X
-3.6%
-$11.00

 

These articles offer precious metals and silver coin news:

  • Bullion & Business Weekend Report – CoinNews
    Precious metal prices turned south, ending the week down for the first time since mid-July. In notable declines, gold retreated below $1,000 an ounce, silver slipped toward $16, and platinum dropped under $1,290. New York oil futures turned …
  • Baby, You Can Drive My Investment – Jon Nadler, Kitco
    Gold’s largest weekly drop in more than two months was slightly mitigated by a small decline in the dollar during the overnight hours. The sell-off in the metal began on the heels of the Fed meeting on Wednesday, …
  • Silver Eagles Strong in September, Despite Struggle – Silver Coins Today
    Collector silver coin sales remained mixed with a touch of unexciting, according to the latest US Mint sale figures. Bullion American Silver Eagles continue to struggle compared to prior 2009 months …
  • US Mint Sales: Gold Coins and Proof Sets Excel in September – CoinNews
    Demand for gold coins and 2009 Proof Sets is turning out to be exceptionally high this September, US Mint sales data reveals. The latest weekly sales figures also show collector coins were mixed compared to the week prior, with very narrow up or down changes …
  • Top Weekly Sellers: Proof First Spouse Coins – First Spouse Coins
    This week, two Proof versions of First Spouse Gold Coins were hot sellers in the series. Sarah Polk and Julia Tyler Proofs jumped by 339 and 218, respectively. Their uncirculated options didn’t do bad either. Polk’s climbed by 164 and …

For daily silver news and prices, visit Silver Prices.

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