Gold Hit by Bouncing Buck

Among the miners, the CBOE Gold Index was slipping 1.2%, with shares of component Gold Fields(GFI Quote) leading the pack down, off 2.2% recently. The index was being partially buoyed by shares of Meridian Gold(MDG Quote), up 0.6%, and those of Freeport McMoRan Copper & Gold(FCX Quote), up 0.8% recently.

Elsewhere, shares of Yamana Gold(AUY Quote) were losing 2.3% in active trading.

Away from the yellow metal, silver prices were skidding as well, with contracts for March delivery closed down 23 cents at $13.795 an ounce on the Comex. The silver ETF, iShares Silver Trust(SLV Quote) was off also, down 2% recently.

In the platinum space, HSBC Securities upped its price target on shares of North American Palladium(PAL Quote) to $5 a share from $4, but retained an underweight rating on the stock. Shares were trading at $8.40 a share recently, off 1.7%.

In base metals, copper prices were retreating on the Comex, with March-dated contracts closing down 8.7 cents at $3.16 a pound. The weakness in the red metal barely weighed on shares of Southern Copper(PCU Quote), which were gaining 0.4% lately.