Silver Retreats After Best Jump Since 2008 as Gold Tops $5,000

Silver gave up most of its gains in late US trading after surging the most since 2008 and gold eased after topping $5,000 an ounce, with heightened volatility disrupting a rally that drove the metals to fresh record highs.

The white metal ended Monday with a 0.6% gain after earlier soaring more than 14% on to a record above $117 an ounce in its biggest intraday jump since the global financial crisis. Bullion, which jumped as much as 2.5% to $5,111.07 an ounce, also gave up some gains in late US trading as the greenback pared losses.