Weekly Silver Prices Little Changed

Silver prices were little changed in this holiday-shortened week. The metal shifted lower until turning a corner in New York on Tuesday and then regaining more serious traction on Thursday to overcome prior losses.

New York silver futures for March delivery ended the week at $17.44 an ounce, rising 12 cents, or 0.7 percent.

London silver was fixed at $17.32 an ounce, gaining a penny, or 0.1 percent for the week. The metal ranged from a low of $16.92 on Wednesday to the $17.32 high point on Thursday. London silver is up $6.53, or 60.5%, this year.

"Skating on this market’s thin surface would be best left to the pros -however many of them are still at their screens. Silver was ahead by 18 cents at last check (quoted at $17.29) but platinum and palladium recorded hefty upward moves, with the former showing a $36 gain to $1455 and the latter adding $18 to $375 per ounce," Jon Nadler, senior analyst at Kitco Metals, Inc., wrote on Christmas Eve.

"An SEC verdict brought shares of proposed ETF Securities Platinum and Palladium trusts one step closer to final approval, and it lifted platinum and palladium prices to their highest in a week. Platinum, in fact, has not traded as high since the 4th of the month."

London precious metal weekly prices follow:

London Fix Precious Metal Prices
	Gold		Silver	Platinum		Palladium
	AM	PM		AM	PM	AM	PM
12/18/2009	1106.50	1104.50	17.31	1435.00	1417.00	366.00	365.00
12/24/2009	1104.50	1104.50	17.32	1456.00	1456.00	377.00	377.00

 

Dollar and Percent Bullion Price Changes
	Up	Down	% Change	$ Change
Silver	X		0.1%	$0.01
Gold	Unchanged		0.0%	$0.00
Platinum	X		2.8%	$39.00
Palladium	X		3.3%	$12.00

 

These articles offer precious metals and silver coin news:

• Gold rises on weaker dollar, reducing weekly losses – MarketWatch
  Gold futures rose Thursday for a second session, continuing to rebound from their seven-week lows as a weaker dollar raised the metal’s investment appeal. The dollar remained lower against most of its major rivals after government data showed first-time claims for …

• Gold Rises Most in a Week as Dollar Drop Spurs Demand for Metal – Bloomberg
  Gold rose the most in a week as a drop in the dollar spurred demand for precious metals as alternative assets. Silver, platinum and palladium also gained. The dollar fell to the lowest level this week against …

• ‘Tis The Season To…Do Tally – Jon Nadler, Kitco
  Two days after hitting seven-week lows near $1072, gold prices were once again trading (just) above the $1100 mark, amid thinning conditions, ahead of today’s early close. The dollar pared its earlier, profit-taking-induced losses, and was off by 0.26 on the trade-weighted index, at 77.67 as of the last check. US jobless claims fell by 28,000 and hit their lowest levels since September of 2008. Capital equipment orders rose in November, but new home sales cratered following the expiration of cash-for-cul-de-sacs programs …

• Silver Eagle Milestone, Collector Sets Decrease – Silver Coins Today
  New United States Mint stats reveal that sales were lower for three of their four available silver coin products. The 2009 US Mint Silver Proof Set was the biggest unit gainer of the collectible sets with weekly sales of 10,041. That was down from 12,136. Collectors are purchasing fewer 2009 DC & Territories Quarters Silver Sets. The latest weekly increase stands at 1,786 compared to 2,300. The 2008-dated Annual …

• 2010 Gold Eagle Bullion Coins on Sale Jan. 19 – CoinNews
  2010 American Eagle Gold and Silver One Ounce Bullion Coins will go on sale beginning January 19, 2010, the United States Mint told its authorized purchasers on Tuesday. In what can be described as roller-coaster of availability due to enormous demand for 2009 bullion Eagles, this news comes as an affirmation of at least an attempt by the US Mint to keep supplies available. The Mint, however, also states that the allocation process will be in place upon their introduction.

• 2010 Silver Eagle Bullion Coin Availability – Silver Coins Today
  The United States Mint today told its authorized purchasers that it would begin taking orders for 2010 American Eagle Silver Bullion Coins on January 19. The US Mint also said it would offer the 2009-dated versions “through the end of the year and into 2010 as long as inventories remain.” The coins, to include the new 2010s, will continue to be sold in an allocated, or limited basis …

For daily silver news and prices, visit Spot Silver.