Gold, Silver Futures Retreat, U.S. Dollar Steady

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DG365FD46564GFH654FU898 Gold and silver futures moved lower Thursday as the U.S. dollar held steady against most of the world’s leading currencies. COMEX gold futures, per the December 2011 contract, settled with a loss of $14.10, or 0.8%, at $1,668.50 per ounce. Silver futures for December 2011 delivery on the COMEX fared worse, finishing lower by $1.12, or 3.4%, at $31.67 per ounce. The sell-off in precious metals coincided this morning with strength in the U.S. Dollar Index (DXY), which climbed to as high as 77.43 this morning.