Silver futures closes at 2-year high; gold ends up

Silver futures finished at a two-year high Monday, and gold booked a gain, as weaker-than-expected economic data were read by some investors as being tepid enough to give the Federal Reserve pause in raising benchmark interest rates in September.

September silver SIU6, -0.34% gained 15 cents, or 0.7%, to $20.50, representing its best close since July 30, 2014, FactSet data show.

“Silver has come back into relative value [with gold] over the last 30 years,” said Ross Norman, chief executive of London-based metals broker Sharps Pixley Ltd.

Gold also rose modestly on Monday, after closing higher Friday.

December gold GCZ6, -0.25%  picked up $2.10, or 0.2%, to settle at $1,359.60 an ounce.

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