Gold, silver futures rise as stock market retreats

AP News
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Posted: Apr 10, 2014 3:41 PM

Gold and silver prices are rising as the stock market goes into retreat.

The actively traded June contract for gold rose $14.60, or 1.1 percent, to settle at $1,320.50 an ounce Thursday. May silver rose 32 cents, or 1.6 percent, to $20.09 an ounce.

Precious metals prices were rising as the stock market fell sharply and investors looked for other assets to park their money in. Biotech, technology and other sectors that had soared over the past year fell the most. In late trading, the Nasdaq composite was down 3 percent.

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Platinum and palladium also rose. Copper edged higher.

Crude oil and most other energy futures fell slightly.

Corn, wheat and soybean prices fell.