Gold, silver futures decline as stocks rally

Published on NewsOK Modified: March 17, 2014 at 4:34 pm •  Published: March 17, 2014

Gold and silver futures are ending lower as a rally in the stock market led investors to shy away from safe-haven assets.

The actively traded April contract for gold fell $6.10, or 0.4 percent, to $1,372.90 an ounce Monday. Silver also fell. The May contract lost 14 cents to $21.28 an ounce.

Prices for precious metals, U.S. government bonds and other safe-play assets declines as the stock market surged Monday following news that factory output rose sharply last month. That bolstered the growing view that a slowdown in the U.S. economy this winter was temporary and may pass once the extreme winter weather abates.

Wheat and corn futures fell while energy prices were mixed.

Crude oil fell 81 cents to close at $98.08 a barrel in New York.