US gold futures ended higher on Monday, after rallying to a record high, as oil prices pulled back sharply and safe-haven buying eroded amid speculation that Libyan leader Muammar Gaddafi was seeking a deal to leave the country. April gold futures settled up $5.90 at $1,434.50 an ounce on the COMEX division of the New York Mercantile Exchange. Ranged from $1,428.30 to $1,445.70 an ounce.
Spot gold was up 0.4 percent at $1,434.50 an ounce by 3:10 pm EST (2010 GMT), after hitting a record $1,444.40 an ounce. COMEX May silver ended up 53.8 cents, or 1.5 percent, at $35.865 an ounce on tight physical demand. Ranged from $35.605 to $36.745. Spot silver gained 1.3 percent to $36.08 an ounce. The metal rose to its highest level since early 1980 in earlier trade at $36.70 an ounce.
NYMEX April platinum finished down $17.50 at $1,820.40 an ounce, weighed down by a decline in industrial metals led by copper. Spot platinum dropped 1.3 percent to $1,817.24 an ounce. NYMEX June palladium closed down $19.70, or 2.4 percent, at $790.10 an ounce, tracking platinum. Spot palladium lost 2.4 percent to $790.