Silver surrenders gains to join gold’s retreat

Silver futures turned lower on Tuesday, surrendering what would have been a nearly two-year settlement high as a rally in U.S. equities tarnished the appeal of precious metals, including gold.

September silver SIU6, +1.36% pulled back, losing 13 cents, or 0.7%, to settle at $20.17 an ounce.

Silver had traded as high as $20.595 an ounce early Tuesday, buoyed by hedging demand and for its use as an industrial commodity. Prices for the white metal have posted gains in eight of the last nine trading sessions. Prices finished Monday at $20.304, the highest since August 2014, according to FactSet.

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