The company also attributes the layoffs to low natural gas prices and sluggish electricity demand.

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While silver has many of the same investment attributes as gold, it enjoys the added advantage of industrial demand.

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Meike Escherich, principal analyst at Gartner, attributes the overall performance to economic uncertainty in the region, as well as lackluster demand in the wait for Windows 8 machines.

ENGADGET: Gartner reports Western Europe desktop shipments down, portable PCs up in Q2 2012