Silver Surges 14.4% in London, 11.6% in N.Y.

Silver and other precious metals soared in spectacular fashion this week, marking impressive gains in both London and New York.

London spot silver closed Friday at $13.90 an ounce, jumping $1.75, or 14.4 percent this week. The metal is now up $3.11, or 28.8 percent for the year (over the $10.79 close on Dec. 31.

In New York trading futures Friday, silver for July delivery ended at $13.955 an ounce, surging $1.455, or 11.6 percent on the week.

Here are week changing London precious metal prices:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
5/1/2009	881.50	884.50	12.15	1096	1076	212.50	212
5/8/2009	917.50	907.00	13.90	1154	1149	241	242

 

Dollar and Percent Changes
	Up	Down	% Change	$ Change
Silver	X		14.4%	$1.75
Gold	X		2.5%	$22.50
Platinum	X		6.8%	$73.00
Palladium	X		14.2%	$30.00

 

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

• May 8– Gold falls as jobs data clip economic worries – MarketWatch
  Gold futures fell Friday for the first session in five, ending slightly lower as government data showed the U.S. economy lost fewer jobs than expected in April, easing economic worries and curbing gold’s appeal as a safe asset…

• May 8 – Gold, Silver, Platinum Fall as Job Losses Dim Inflation Outlook – Bloomberg
  Gold slipped as the U.S. jobless rate rose, reviving concern that a slowing economy may spur deflation and erode the appeal of precious metals as hedges against inflation…

• May 8– High (Yo) Silver Surplus – Jon Nadler, Kitco
  Friday’s action in the metals markets was still dominated by sellers. Gold and the rest of the complex yielded in the wake of liquidations engendered by persistent IMF gold sales talk and by rising interest among some investors in other markets…

• Bullion & Business Weekend Report – CoinNews
  Precious metals surged this week, with London gold rising 2.5 percent, silver soaring 14.4 percent, and platinum jumping 6.8 percent. In black gold, crude-oil closed at its highest point this year to near $59 a barrel…

• May 6– US Silver Coin Sales – Silver Coins Today
  Demand for silver coins and sets dipped slightly compared to last week’s report, and according to the newest US Mint sales data. The story is still about Braille Silver Dollars. More than one third of the possible 400,000 have now been sold…

• May 3 –American Eagle Silver Bullion Coins Smash Sales Records – Silver Coins Today
  2009 American Eagle Silver Bullion Coins have shattered past monthly sales records, and are racing toward a dramatic historic yearly total. Earlier this year, Silver Coins Today showed record eagle sales for the first two months of 2009. Demand for the eagles by then had hit an all time February high and recorded the second best January since the coins launched in 1986…

For daily news and prices, visit Silver Spot Prices.