EU Worries Jump-Start Spot Gold

New York spot gold prices have gained ground late afternoon with European Union leaders convening at a Europe Union summit, and trouble shooting on Greece's debt troubles remain at the top of their priority list.
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NEW YORK (TheStreet) -- New York spot gold prices have gained ground late afternoon with European Union leaders convening at a Europe Union summit, and troubleshooting Greece's debt troubles at the top of their priority list.

"Following their (sovereign debt jitters-induced) worst drop in seven weeks, gold prices managed to stabilize in the overnight period," Kitco analyst Jon Nadler writes. "Bullion climbed back towards the $1,095 value zone after the euro regained a bit of lost ground ahead of the start of an EU summit later today."

Spot gold prices have risen $3.80, or 0.4%, to $1,091.30 an ounce.

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New York spot silver prices are up 6 cents, or 0.4%, to $16.62 an ounce in the intraday.

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New York spot platinum prices have popped by $24, or 1.5%, to $1,602 an ounce, while its sister metal has also gained ground.

New York spot palladium prices are up $7, or 1.6% in the afternoon at $450 an ounce.

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A handful of mining stocks had a soft finish to Thursday's trading session. Mining stocks offer another form of exposure to precious metals.

Stillwater Mining

(SWC)

fell 4.9% to $12.40, while

Newmont Mining

(NEM) - Get Report

tumbled 2.8% to $48.40.

Silvercorp Metals

(SVM) - Get Report

fell 3.7% to $6.50, and

Hecla Mining

(HL) - Get Report

tumbled 2.8% to $5.20.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>NY Spot Gold Pressured by Europe Concerns

>>Spot Gold Falls on Interest-Rate Concerns

>>Spot Gold Softens on Greece Worries

>>Spot Gold Prices Up on Job Report

>>Spot Gold Comes Off Earlier Highs

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