NEW YORK (TheStreet) -- Spot gold prices are taking some losses Monday as the yellow metal loses appeal against a firmer stock market being fueled by news that China may allow for more currency flexibility.
Spot gold prices were falling $21.10, or 1.7%, to $1,235.40 an ounce Monday afternoon.
New York spot silver prices were decreasing 36 cents, or 1.9%, to $18.81 an ounce.
New York spot platinum prices, meanwhile, were losing $2, or 0.1%, to $1,587 an ounce, while its sister metal was gaining traction.
More on Commodities
New York spot palladium prices were rising $1, or 0.2%, to $489 an ounce.
Mining stocks and metals ETFs were experiencing mixed action Monday afternoon. Mining stocks offer another form of exposure to precious metals.
was falling 4.7% to $7.15, while
Freeport-McMoRan Copper & Gold
was adding 5.1% to $69.27.
was falling 3.4% to $5.69, while
was rising 4.2% to $14.09.
-- Reported by Andrea Tse in New York
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