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.
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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.

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

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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.

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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 Report

was jumping 5.3% to $27, while

Kinross Gold

(KGC) - Get Report

was rising 4% to $18.39.

Barrick Gold

(ABX)

was adding 3.7% to $44.78, while

ETFS Physical Palladium Shares

(PALL) - Get Report

was up 1.7% to $48.08.

-- Reported by Andrea Tse in New York

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