Spot Gold Prices Extend Gains
NEW YORK (TheStreet) -- Spot gold prices extended recent gains Friday afternoon as the dollar descended.
The dollar index was down 0.6% to $80.36 after the Labor Department reported that nonfarm payrolls fell by a seasonally adjusted 131,000 last month -- a second straight month of losses. On average, investors had expected nonfarm payrolls to shed 87,000 positions.
New York spot gold prices were rising $10.70, or 0.9% , to $1,205.60 an ounce Friday afternoon.
New York spot silver prices were up 12 cents, or 0.7%, at $18.46 an ounce.
New York spot platinum prices, meanwhile, were falling $2, or 0.1%, to $1,567 an ounce, while its sister metal was losing traction.
More on Commodities |
New York spot palladium prices were declining by $11, or 2.2%, to $485 an ounce.
Mining stocks and exchange-traded funds (ETFs) were trading in mixed territory Friday afternoon. Mining stocks offer another form of exposure to precious metals.
Platinum and Palladium extractor
Stillwater Mining
(SWC)
was falling 1.3% to $13.79, while
Freeport-McMoRan Copper & Gold
TheStreet Recommends
(FCX) - Get Freeport-McMoRan Inc. Report
was rising 0.1% to $74.15.
ETFS Physical Palladium Shares
(PALL) - Get abrdn Physical Palladium Shares ETF Report
was down 2.1% to $48.59 and
iShares Silver Trust
(SLV) - Get iShares Silver Trust Report
was 0.6% higher at $18.07.
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