Precious Metals May Advance Amid Concern About Sovereign Debts

Bloomberg reports platinum group metals may gain as debt concerns in the US and Europe spur demand for metals as a protection of wealth.

The market news is quoted as saying,

Silver for September delivery in New York was down 0.2 percent at $39.715 an ounce, taking its monthly gain to 14 percent. Palladium for September delivery fell 0.3 percent to $825.50 an ounce and is up 8.5 percent this month. Platinum for October delivery was 0.4 percent lower at $1,785.90 an ounce. It gained 3.5 percent this month.

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