Spot Gold Prices Ease Up Ahead of Holiday
NEW YORK (TheStreet) -- New York spot gold prices were trading sideways Friday afternoon in advance of the long weekend holiday in the U.S.
Spot gold prices were holding at $1,213 an ounce.
Some investors, according to market watchers, were trading in their precious-metal positions for cash ahead of the Memorial Day weekend.
New York spot silver prices were falling by 15 cents, or 0.8%, to $18.36 an ounce.
New York spot platinum prices, meanwhile, were decreasing $16, or 1%, to $1547 an ounce, while its sister metal was also losing traction.
More on Commodities |
New York spot palladium prices were down $2, or 0.4%, to $461 an ounce.
Mining stocks and metals ETFs were heading lower Friday afternoon. Mining stocks offer another form of exposure to precious metals.
North American Palladium
(PAL)
was at $3.44, down 2.3%, while
ETFS Physical Palladium Shares
(PALL) - Get Report
were falling 0.2% to $46.23.
Stillwater Mining
(SWC)
was decreasing 3.9% to $13.18 and
Silver Wheaton
(SLW)
was falling 1.6% to $18.86 .
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-- Reported by Andrea Tse in New York
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