New York Spot Gold Prices Slip

New York spot gold prices slip Thursday as weekly jobless claims show a slight decline and U.S. stocks retreat from big recent gains.
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NEW YORK (TheStreet) -- New York spot gold prices saw a bit of a selloff amid a fall in initial weekly jobless claims and the paling of stock markets Thursday.

Spot gold prices were declining $5.20, or 0.4%, to $1,231.90 an ounce Thursday afternoon.

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New York spot silver prices were slipping 3 cents, or 0.2%, to $19.49 an ounce.

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New York spot platinum prices, meanwhile, were losing $4, or 0.2%, at $1,733 an ounce, while its sister metal was losing traction.

New York spot palladium prices were falling $1, or 0.2%, to $540 an ounce.

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A handful of mining stocks were also retreating Thursday afternoon. Mining stocks offer another form of exposure to precious metals.

Shares of

North American Palladium

(PAL)

was falling 3.4% to $4.26, while

Newmont Mining

(NEM) - Get Report

was sliding 1.9% to $57.64.

Silvercorp Metals

(SVM) - Get Report

stock was shedding 3.9% to $8.61.

Meanwhile,

Kinross Gold

(KGC) - Get Report

was down 1.6% to $18.92.

-- Reported by Andrea Tse in New York

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