Spot Gold Prices Defy Stock Rebound
NEW YORK (TheStreet) -- Spot gold prices were rising even as the broader equities markets bounced back from disappointing economic news.
New York spot gold prices were rising by $8.30, or 0.7%, to $1,238.70 an ounce Wednesday afternoon.
New York spot silver prices were increasing by 57 cents, or 3.1%, to $18.95 an ounce.
New York spot platinum prices, meanwhile were up by $17, or 1.1%, to $1,528 an ounce, while its sister metal was gaining traction.
More on Commodities |
New York spot palladium prices were up by $7, or 1.5%, to $490 an ounce.
A handful of mining stocks and exchange-traded funds (ETFs) finished Wednesday's trading session in mixed territory. Mining stocks offer another form of exposure to precious metals.
SPDR Gold Trust
(GLD) - Get SPDR Gold Shares ETF Report
finished Wednesday's session at $121.36, or 0.8% higher, while shares of
Barrick Gold
(ABX)
rose 3.1% to $45.13.
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Freeport-McMoRan Copper & Gold
(FCX) - Get Freeport-McMoRan Inc. Report
fell 0.6% to $66.66 and
Newmont Mining
(NEM) - Get Newmont Corporation Report
added 2.8% to $58.74.
-- Written by Andrea Tse in New York.
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