Silver Drops to $21 per Ounce as Investors Await US Data

Today, silver lost 0.05 percent, or $0.01, to trade at $21 per ounce, according to Reuters.

While escalating tension in Iraq and Ukraine is making precious metals increasingly appealing, investors are waiting to see upcoming US data before taking firmer positions in silver. A US jobs report expected Thursday is expected to speak to the direction of the country’s economy — favorable news could deflate precious metals prices, while an indication of economic troubles could raise them.