US Silver Collapses 6.4%; Endeavour Silver Raises Production Guidance

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Endeavour Silver Corp. has decided to raise its gold and silver production guidance for 2013 to “6 million ounces of silver, up 20% from previous guidance of 5 million to 5.3 million ounces, as well as 68,000 ounces of gold, up 48% from previous guidance of 46,000-49,000 ounces,” according to Kitco.

Meanwhile…

US silver had the largest decline on Friday, September 13, dropping 6.4 percent. Japanese silver prices fell 4.5 percent last Friday. Chinese silver fell 4.4 percent and the Indian silver price also saw a decline.

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US gold bullion prices were off by 3.3 percent last Friday. The price of Japanese gold bullion declined 2.6 percent. Chinese gold bullion prices weakened by 2.0 percent — this marked the fifth day in a row of declining prices and the drop-off has accelerated since Monday, September 9. Indian gold bullion closed 1.8 percent lower.

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US platinum bar finished the day down 2.3 percent. Japanese platinum bar prices saw a 1.4 percent decline. Chinese platinum bar saw a 1.0 percent drop last Friday.

The price of Japanese palladium bar fell 0.9 percent. US palladium bar fell 0.4 percent last Friday. The price of Chinese palladium bar held steady.