Publish date:

Spot Gold Prices Bounce Back

Spot gold prices are bouncing back, as the yellow metal regains appeal amid the slumping U.S. markets that followed a spate of weak economic data.
Author:


NEW YORK (TheStreet) -- Spot gold prices are bouncing back, as the yellow metal regains appeal amid the slumping U.S. markets that followed a spate of weak economic data.

New York spot gold prices were adding $16.70, or 1.4%, to $1,247.20 an ounce Thursday afternoon.

Image placeholder title

New York spot silver prices were rising by 28 cents, or 1.5%, to $18.75 an ounce.

Image placeholder title

New York spot platinum prices, meanwhile, were up $8, or 0.5%, to $1,575 an ounce, while its sister metal was gaining traction.

New York spot palladium prices were advancing $8, or 1.7%, to $480 an ounce.

Image placeholder title

Mining stocks and metals ETFs were trading in positive territory Thursday afternoon. Mining stocks offer another form of exposure to precious metals.

Pan American Silver

(PAAS) - Get Pan American Silver Corp. Report

was jumping 5.3% to $27, while

Kinross Gold

(KGC) - Get Kinross Gold Corporation Report

was rising 4% to $18.39.

TheStreet Recommends

Barrick Gold

(ABX)

was adding 3.7% to $44.78, while

ETFS Physical Palladium Shares

(PALL) - Get Aberdeen Standard Physical Palladium Shares ETF Report

was up 1.7% to $48.08.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>Spot Metals Roundup, 6/16: Spot Gold Cedes Gains to Stocks

>> Spot Metals Roundup, 6/09: Spot Gold Prices Fall on Macro Reassurances

>> Spot Metals Roundup, 6/09: Spot Gold Prices Fall on Macro Reassurances

>> Spot Metals Roundup, 6/08: Spot Spot Gold Prices Firm on Macro Concerns

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.