CoinNews

Silver continued its spectacular rise Friday, soaring another 45 cents in New York and scoring the best monthly gain in 22 years.

Silver futures for July closed to $15.61 an ounce, jumping 27 percent on the month for the biggest gain since April 1987. London spot silver ended at $15.52 an ounce earlier in the day, surging 64 cents.

"Extreme dollar weakness is adding to the momentum," Pradeep Unni, an analyst at Richcomm Global Services in Dubai, was quoted on Bloomberg. "Ascending oil prices, concerns of inflation and fears of massive U.S. debt have certainly been supporting" both gold and silver.

American Eagle Silver Bullion Coins experienced movement as well. Reports were abound earlier in the week on how authorized dealers for the U.S. Mint trimmed orders and left an inventory of bullion coins behind -- a situation that had been unheard of since the Mint started rationing the coins and suspended production of the 2009 collector proof and uncirculated versions.

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