Silver Weekly Prices Advance in London, Decline Slightly in NY

Silver weekly prices calmed following the wild upward rides of the first 2010 trading week. Silver in London did push up 2.2 percent for the week. However, later closing New York silver futures dipped 22.5 cents on Friday to finish with a weekly 0.2 percent loss.

At the end of the day, New York silver futures for March delivery ended at $18.43 an ounce, falling 4 cents on the week.

London silver was fixed at $18.51 an ounce, rising 40 cents for the week. Prices peaked on Monday at $18.84. Wednesday was the low point with a price point of $18.35 an ounce.

"Silver’s appeal and exceptional performance will likely be driven by three factors. The first being an increase in demand by investors; the second, an increase in industrial demand; and finally, the supply for the precious metal is slowly diminishing away," writes Kevin Grewal, editorial director at www.SmartStops.net.

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
1/8/2010	1121.75	1126.75	18.12	1547.00	1569.00	424.00	431.00
1/15/2010	1132.00	1128.00	18.52	1610.00	1600.00	452.00	449.00

 

Dollar and Percent Bullion Price Changes
	Up	Down	% Change	$ Change
Silver	X		2.2%	$0.40
Gold	X		0.1%	$1.25
Platinum	X		2.0%	$31.00
Palladium	X		4.2%	$18.00

 

These articles offer precious metals and silver coin news:

• Gold drops on inflation data, China concerns, rising dollar – MarketWatch
  Gold futures sank Friday, hit by concerns about China’s moves to cool its economy, a tame U.S. inflation report and a stronger dollar. There were concerns that China’s appetite for commodities might wane. On Friday, China reported record foreign-exchange reserves, torrid …

• Gold Falls as Rallying Dollar Cuts Investor Demand for Metals – Bloomberg
  Gold prices fell as the dollar’s rally sapped investor demand for the metal as an alternative asset. Palladium jumped to an 18-month high. The greenback gained as much as 0.8 percent against a basket of six major currencies, halting a five-session slide. Demand for the dollar as a haven …

• I’ll Have A Slice Of That Pie, Please! – Jon Nadler, Kitco
  Gold prices wiped out their weekly gains following an overnight fall in values, to just under $1130 per ounce. The move to lower levels was precipitated by a 0.43 surge in the US dollar and by a lack of bargain-hunting buyers in overseas markets. This was the first real gain in the U.S. Dollar Index in circa six sessions. The greenback gained ground on market speculation that growth in China will hit …

• Gold and Silver Coin Plateau – CoinNews
  US Mint numismatic coin sales dipped, marking the third general weekly decline in four weeks. The excitement level of the 2009-dated coins is waning as eyes begin to turn toward upcoming series, like the America the Beautiful Quarters products, 2010 Lincoln cent and 2010 silver dollars — especially the Boy Scout commemoratives. Sales were not completely sour. Last week’s rising gold and silver prices were beneficial to most …

• Leading Uncirculated Set and Bullion Eagles – Silver Coins Today
  Demand for two of the three numismatic sets currently offered by the United States Mint retreated while bullion Silver Eagles surged, according to the latest US Mint weekly sales data. It is the end of the 2009-dated eagles. The Mint sold out of their remaining inventory on Tuesday morning. Mint authorized purchasers had ordered 236,500 more since last Wednesday’s report, bringing the total sold since the beginning of 2009 to …

For silver news and prices, visit Daily Silver Prices.