Apmex Silver

Photo Block Spray to Stop Tickets in the Mail

Sunday, January 3, 2010

Silver Year End Recap Up 47% for Year 2009

2009 NY and London Silver Prices, Annual Gains
January 2, 2010 by Silver Coins Today
Despite a down week, silver had a spectacular 2009. The metal posted an annual gain in New York of 49%, which was the biggest yearly increase since 1979. The percent gain was even larger in London at 57.5%.
New York silver futures for March delivery ended the year at $16.85 an ounce -- plunging 60 cents, or 3.4 percent, for the week. The price more than tripled from the $5.453 mark at the end of 1999.
GoldMoneyBill.org- Working to restore Sound Money.
London silver was fixed at $16.99 an ounce, falling 33 cents or 1.9 percent for the week. The metal ranged from a low of $16.92 on Wednesday to a $17.42 high point on Tuesday. It jumped $6.20 in 2009. London silver finished at $5.33 a decade ago.

For most of 2009, silver followed gold's direction. Gold in turn moved opposite of the US dollar. Where the greenback heads in 2010 is likely to contribute greatly to silver's direction again. A couple of thoughts by two market players follow:

"The purchasing power of all currencies is being eroded," James Turk, the founder of Jersey, Channel Islands-based GoldMoney.com, said on Bloomberg. "I look at the real price of goods and I see hyperinflation for the dollar in the not-too-distant future. That means a declining value of the dollar and higher gold prices."

"It appears that 2009 will end much the way it started in the financial markets, a dollar story," Brian Kelly, chief executive of Kanundrum Research, a commodities and macroeconomic research firm, said on MarketWatch. "For gold the catalyst in 2010 will be inflationary pressures.
For Physical Ownership of Silver there is Monex- The low cost precious metal retailer. Paul Bea 800-949-4653 x2172 Use Kevin from Goldmoneybill.org as a referral

No comments: