Gold and silver futures surrendered their gains Thursday afternoon following
the close of open-pit trading at the COMEX. Gold for April delivery the most
actively-traded contract closed higher by $9.90, or 0.6%, at $1,741.20 per
ounce on the COMEX but soon after fell toward $1,430 per ounce in electronic
trading. Silver futures followed a similar trajectory, as the COMEX March
contract settled higher by $0.21, or 0.6%, at $33.92 per ounce but subsequently
slid toward $33.80 per ounce. Gold and silver stocks headed south as well, with
the Philadelphia Gold & Silver Index (XAU) turning a 0.6% gain into a 0.5% loss
at 198.06 this afternoon.
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