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Silver Prices Sink 8.3% in NY, 6.1% and London

October 31, 2009 by · Leave a Comment 

Weekly Silver UpdateOctober has been a month of seesaw silver prices, with the latest weekly silver numbers plunging in both New York and London. Last week the metals overcame the previous week’s decline. This week those gains were given back, and more.

New York silver futures for December delivery closed to $16.255 an ounce on Friday, and finished the week lower by $1.468, or 8.3 percent.

London silver was set to $16.65 an ounce, plunging $1.08, or 6.1 percent, on the week. The loss bites into the metal’s yearly performance, which is still up an impressive $5.78, or 53.6 percent from the $10.79 fixes price on Dec. 31, 2008. However, the gain was 63.6 percent just last Friday.

"A less-euphoric outlook to global growth may help explain why the price declines in silver and platinum have been more severe than gold over the past week," analysts at Deutsche Bank said on Bloomberg.com

London precious metal weekly prices follow:


Read the rest of Silver Prices Sink 8.3% in NY, 6.1% and London (592 words)

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