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NEW YORK (AP) - Silver hit a fresh 19-year high Monday on anticipation of a silver exchange-traded fund, driving an impressive rally in precious metals.
The May silver contract on the New York Mercantile Exchange reached $10.94 an ounce Monday, then later settled at $10.895 an ounce, up 16 cents.
Traders said silver prompted a rise in the rest of the precious metals market, as buyers poured in amid anticipation of final approval for a silver exchange-traded fund.
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