Gold and Silver may perform better if US August employment data disappoints
LONDON (Bullion Street): Escalating tensions in Middle East benefitted silver and gold while platinum and palladium weakened on disappointing US employment data of July,Syria tensions, falling equities that cast a shadow on global economic recovery, according to ETF Securities Ltd (ETFS).
Silver added 2.5% for an August gain of 18.6%, the best monthly performance since January 2012. Platinum and palladium came under pressure in response to declining equity prices, as tensions in Syria threatened to destabilize the global economic recovery. In addition to Middle East tensions and an upcoming US Congressional budget ceiling debate, the marketplace will greet the official end of summer with August US unemployment on Friday, September 6.