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 Report
finished Wednesday's session at $121.36, or 0.8% higher, while shares of
Barrick Gold
(ABX)
rose 3.1% to $45.13.
Freeport-McMoRan Copper & Gold
(FCX) - Get Report
fell 0.6% to $66.66 and
Newmont Mining
(NEM) - Get Report
added 2.8% to $58.74.
-- Written by Andrea Tse in New York.
>To contact the writer of this article, click here:
Andrea Tse
.
>To follow the writer on Twitter, go to
.
>To submit a news tip, send an email to:
.
RELATED STORIES:
>> Spot Metals Roundup, 8/24: Spot Gold Prices Rise as Stocks Fall
>>Spot Metals Roundup, 8/23: Spot Gold Prices Extend Losses
>> Spot Metals Roundup, 8/20: Inverse Relationship of Spot Gold Fades
>> Spot Metals Roundup, 8/18: Rise of Spot Gold Prices Tempered
Get more stock ideas and investing advice on our sister site,
Follow TheStreet.com on
and become a fan on
Follow Andrea Tse on
and become a fan on
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
