NEW YORK (TheStreet) -- New York spot gold prices ended in the red even after minutes from the Fed Reserve's September policy-setting meeting suggested that another round of quantitative easing could occur sooner rather than later.
The minutes were released Tuesday afternoon.
Earlier, Chuck Butler, President of EverBank World Markets, told
he was surprised by the yellow metal's unenthusiastic reaction to the minutes. "That's puzzling to me. The currencies aren't moving higher either," he said. "And gold has moved so much lately because of the weak dollar."
He went on to say that he doesn't believe the dollar strength "will last too long as the dollar doesn't have any yield to offer investors."
New York spot gold prices ended lower by $3.40, or 0.3%, to $1,350.50 an ounce Tuesday.
closed slightly higher by 3 cents, or 0.1%, to $23.31.
New York spot platinum prices fell by $6, or 0.4%, to $1,676 an ounce, while its sister metal lost traction.
More on Commodities
New York spot palladium prices lost $5, or 0.9%, to $581 an ounce.
A handful of mining stocks and precious metals ETFs ended Tuesday's trading session in mixed territory. Mining stocks offer another form of exposure to precious metals.
fell by 1% to $18.94, while
North American Palladium
rose by 1.6% to $4.42.
lost 0.9% at $62.
was down 0.6% to $48.44.
was up 0.6% to $26.75.
SPDR Gold Trust ETF
fell 0.3% to $131.96 and
ETFS Physical Palladium Shares
tumbled 0.9% to $58.
ETFS Physical Platinum
was down 0.3% to $167.40.
-- Written by Andrea Tse in New York.
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