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Spot Gold Prices Fall on Macro Reassurances

Spot gold prices gave up gains as investors' concerns about an economic slowdown eased.
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NEW YORK (TheStreet) -- Spot gold prices gave up gains as investors' concerns about an economic slowdown eased following reassuring comments from Fed chairman Ben Bernanke about the U.S. recovery, as well as a Reuters report highlighting a surge in China's exports.

Spot gold prices were falling $2.30, or 0.2%, to $1232.50 an ounce Wednesday afternoon.

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New York spot silver prices were surrendering18 cents, or 1%, to $18.11 an ounce.

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New York spot platinum prices, meanwhile, were giving up $2, or 0.1%, to $1525 an ounce, while its sister metal was losing traction.

New York spot palladium prices were adding $7, or 1.6%, to $447 an ounce.

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A handful of mining stocks and metals ETFs were losing ground Wednesday afternoon. Mining stocks offer another form of exposure to precious metals.

Newmont Mining

(NEM) - Get Report

fell 1.3% to $55.70, while

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

lost 1.2% to $60.75.

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Hecla Mining

(HL) - Get Report

gave up 1.7% to $5.22, and

Silver Wheaton

(SLW)

surrendered 1.9% to $18.81.

-- Reported by Andrea Tse in New York

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