Weekly Silver Prices Tumble 3.3% in New York, 3.7% in London

Silver prices turned lower to mark a second weekly negative trend following the metal’s monstrous May surge.

New York silver futures for July delivery plunged to close Friday at $14.875 an ounce, tumbling 51.3 cents or 3.3 percent on the week.

Silver’s picture in London was similar. London spot silver closed Friday at $15.07 an ounce, plunging 58 cents or 3.7 percent on the week.

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