Safe Haven Buying Spurs Spot Gold Prices
NEW YORK (TheStreet) -- New York spot gold prices made more gains Wednesday afternoon as the yellow metal was being snapped up as a safe haven investment against economic unknowns.
Spot gold prices were rising by $11.60, or 1%, to $1212.80 an ounce Wednesday afternoon.
New York spot silver prices were increasing by 32 cents, or 1.8%, to $18.27 an ounce.
New York spot platinum prices, meanwhile, were adding $8, or 0.5%, to $1,526 an ounce, while its sister metal was also gaining traction.
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New York spot palladium prices were up $8, or 1.8%, to $445 an ounce.
Mining stocks and metals ETFs were headed up Wednesday afternoon. Mining stocks offer another form of exposure to precious metals.
North American Palladium
(PAL)
was rising 3.2% to $3.30 while
ETFS Physical Palladium Shares
(PALL) - Get Report
were adding 1% to $44.57.
Silvercorp Metals
(SVM) - Get Report
was increasing 2.9% to $7.38 and
Silver Wheaton
(SLW)
was up 3.1% to $18.86.
-- Reported by Andrea Tse in New York
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