Silver prices climb for fifth day

Silver prices climb for a fifth day on better outlook for growth

Associated Press

Silver prices rose for a fifth day Wednesday as the outlook for global demand improves and the countries that use the euro emerge from recession.

Bargain-hunters are also taking advantage of a recent slump in the price of silver.

September silver rose 44.4 cents, or 2.1 percent, to $21.787 an ounce. The metal has climbed 19 percent since falling as low as $18.40 an ounce on June 27, close to its lowest in almost three years.

Silver is still down 28 percent this year. Investors dumped precious metals and commodities in April on concern that growth in China is slumping.

Gold for December delivery rose $12.90, or 1 percent, to $1,333.40 an ounce.

Copper for September rose 2.3 cents to $3.34 a pound. Platinum for October rose $5.50 to $1,505.20 an ounce and palladium for September rose $1.45 to $740.35 an ounce.

Corn, wheat and soybeans all rose.

December corn for December delivery rose 8 cents to $4.5525 a bushel. September wheat rose 1.25 cents to $6.4275 a bushel and November soybeans rose 11.25 cents to $12.39 a bushel.

Oil and gasoline barely budged. Crude for September delivery rose 2 cents to $106.85 a barrel on the New York Mercantile Exchange.

In other energy trading, heating oil was flat at $3.05 a gallon, wholesale gasoline rose 3 cents to $2.85 a gallon and natural gas added 6 cents to $3.34 per 1,000 cubic feet.

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