Silver Prices Surge 6.0% in New York, 4.2% in London

Precious metal prices rallied this week in New York and London markets following dismal performances last week. Silver was buoyed by rising gold prices, and signs of a stabilizing economy that would increase metal demand.

New York silver futures for September delivery soared 75.8 cents or 6.0% on the week, closing Friday to $13.403 an ounce.

London silver surged as well, gaining 53 cents or 4.2 percent to end Friday at $13.16 an ounce.

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