Tuesday, May 17, 2011

Silver rallies closer to $50, gold gains as buyers keep coming


The price of silver made a run for the $50 mark on Monday, the previous nominal peak reached 31 years ago, as the wild bull market in precious metals rolls on.

April silver futures in New York traded as high as $49.10 an ounce but fell back to close at $47.15, up $1.09 for the session, or 2.4%.

The more active May silver contract made it closer to $50, trading as high as $49.82 before retreating.

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