Silver Prices Tumble 6.0% in London, 5.7% in New York

Precious metal prices were hit hard this week, falling on the heels of a stronger U.S. dollar and sliding oil prices. Silver suffered one of the worst weeks of the year as it followed gold’s decline.

New York silver futures for September plunged 76.3 cents or 5.7% on the week to close Friday at $12.645 an ounce. It actually reached $12.51, which was the lowest level since May 4.

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