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NEW YORK (AP) - Silver rose to a new 19-year high Monday, prompting a rise in other precious metals as buyers poured in amid anticipation of final approval for a silver exchange-traded fund.
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.
The U.S. Securities and Exchange Commission has approved the first part of the ETF proposal for trading on the American Stock Exchange. The market is awaiting final approval as the SEC goes through a registration transaction period. A formal launch date is not yet known.
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