US gold futures ended lower on Thursday, erasing early gains, after a report that Saudi Arabia was in talks to boost crude output eased worries about soaring oil prices and escalating tensions in Libya. April gold futures settled down $1.80 at $1,415.80 an ounce on the COMEX division of the New York Mercantile Exchange.
Ranged from $1,401.60 to $1,418.8 an ounce - a seven-week high. Spot gold fell 0.5 percent to $1,404.40 an ounce by 2:50 pm EST (1950 GMT), off a near two-month high of $1,417.92 set earlier in the session. COMEX March silver ended down 13.2 cents at $33.166 an ounce, tracking gold. Ranged from $32.595 to $33.740 - a 31-year high. Silver dropped 2.3 percent to $32.73, having touched 31-year peaks above $34 on Tuesday.
NYMEX April platinum finished up $10.10 at $1,786.80 an ounce as industrial metals hurt by economic uncertainty due to Libya's unrest. Spot platinum inched up 50 cents to $1,782 an ounce. NYMEX March palladium closed up $3.20 at $777.75 an ounce on bargain hunting after recent heavy losses. Spot palladium slipped 0.4 percent to $773.22.
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