Spot Gold Prices Extend Losses

Spot gold prices are falling as demand for the yellow metal softens amid a surge in the U.S. dollar.
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NEW YORK (TheStreet) -- Spot gold prices are falling as demand for the yellow metal softens amid a surge in the U.S. dollar.

The U.S. dollar index has been up 1.8% to $82.33.

New York spot gold prices were declining by $3.90, or 0.3%, to $1,199.90 an ounce Wednesday afternoon.

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New York spot silver prices were lower by 40 cents, or 2.2%, at $17.91 an ounce.

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New York spot platinum prices, meanwhile were falling $26, or 1.7%, to $1,515 an ounce, while its sister metal was losing ground.

New York spot palladium prices were sliding by $11, or 2.3%, to $464 an ounce.

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Mining stocks and exchange-traded funds (ETFs) were trading in the red Wednesday afternoon. Mining stocks offer another form of exposure to precious metals.

Stillwater Mining

(SWC)

was tumbling by 6.3% to $12.77, while

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

was falling by 4.3% to $70.09.

ETFS Physical Palladium Shares

(PALL) - Get Report

was down by 2.1% to $46.42 and

iShares Silver Trust

(SLV) - Get Report

was 2.5% lower to $17.53.

-- Reported by Andrea Tse in New York

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>>Spot Metals Roundup, 8/10: Spot Gold Prices Sag

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