Silver Price gaining in early trading

July 3, 2013

LONDON (July 3) Silver for immediate delivery gained 0.8 percent to $19.5707 an ounce in London. It reached $18.2208 on June 28, the lowest since August 2010, and is the second worst performer in the Standard & Poor’s GSCI gauge of 24 commodities this year. Platinum fell 0.2 percent to $1,363.62 an ounce in London. Palladium was down 0.6 percent at $681.50 an ounce.

Anglo American Platinum Ltd. (AMS), the world’s biggest producer of the metal, said it will start wage negotiations with labor unions in South Africa in August. The talks will run at the same time as those about the company’s plans to eliminate 6,000 jobs at mines to help return to profit, said Thabisile Phumo, a spokeswoman for the Johannesburg-based company.

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