Futures Market News
Silver outperforms gold as markets rise
Aug 02, 2010 04:55 PM
The past month has taken some of the shine out of gold, but silver appears to be moving from strength to strength. According to reports from TheStreet.com, a sinking dollar and certain economic indicators might help push the price of the white metal higher in the coming months.
Economic data in the coming weeks will be particularly important. Production and corporate profits have gained in the past months, but employment has lagged badly.
Therefore, the nonfarm payrolls figure will be closely watched indeed. Last month they fell for the first time, reflecting a decrease in public-sector employment driven by the layoffs of temporary U.S. Census workers.
Another factor in the price of precious metals is the relative value of the dollar, which has been under assault recently. The European bank stress test set investors' minds at ease, for the time being, about the stability of the euro-zone moving forward.
The sinking dollar has helped drive money into riskier assets like precious metal and crude oil futures.
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