Silver Slips Lower

April 30, 2014

New York (Apr 30)  Silver futures for July delivery slid 1.2 percent to $19.30 an ounce in New York, heading for a second monthly loss. Platinum for the same delivery month fell 0.6 percent to $1,423.50 an ounce, paring a monthly increase.

Palladium for June delivery in New York fell 0.6 percent to $803 an ounce. The metal is still set for a third monthly gain, the longest such run since January 2013, on concern that supplies from Russia and South Africa, the two largest producers, may be disrupted.

South Africa’s Association of Mineworkers and Construction Union plans to meet the world’s three biggest platinum producers on May 2 after rejecting the latest pay offer, Joseph Mathunjwa, union president, said today. Workers have been on strike since January.

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