Spot Gold Shows Dollar Defiance

New York spot gold prices have been showing some defiance in the face of a rising U.S. dollar.
By Andrea Tse ,


NEW YORK (TheStreet) -- New York spot gold prices have been showing defiance in the face of a rising U.S. dollar on Thursday.

Spot gold prices were rising $4.10, or about 0.4%, to $1,158.90 an ounce in afternoon action Thursday.

"The US dollar resumed its climb after a couple of wobbly sessions and traders were largely sidelined as they awaited a slew of U.S. economic data today and tomorrow," Kitco analyst Jon Nadler wrote in a report Thursday.

New York spot silver prices, meanwhile, were losing 2 cents, or 0.1%, to $18.40 an ounce.

New York spot platinum prices were falling $9, or 0.5%, to $1,719 an ounce, while its sister metal, palladium, lost traction.

New York spot palladium prices were down $4, or 0.7%, to $543 an ounce.

Mining stocks, which offer another form of exposure to precious metals, were trading in mixed territory Thursday afternoon.

North American Palladium

(PAL)

stock shot up 5.9% to $5.20, while

Stillwater Mining

(SWC)

added 1.8% to $16.80.

Silvercorp Metals

(SVM) - Get Report

lost 0.4% to $7.60, while

Silver Wheaton

(SLW)

edged up 0.8% to $17.60.

-- Reported by Andrea Tse in New York

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