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Gold, Silver Lose Some Luster

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Gold, Silver Lose Some Luster

Precious metals have been on a tear in recent days. But the strong run for gold and silver looked set to fizzle out on Christmas Eve.

Gold futures slipped 0.3% to $4,490 an ounce, and silver futures fell 0.4% to $70.83 an ounce. Both hit record settlement prices on Tuesday and had looked set to build on that overnight before giving up their gains.

The metals had racked up gains earlier this week due to heightened geopolitical tensions, with investors seeking out so-called havens as the U.S. pursues Venezuelan oil tankers.

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