Spot Gold Prices Firm Amid Equities Decline

Spot gold prices are stronger Thursday afternoon as the broader equities fall on an unexpected increase in initial weekly jobless claims.
Author:
Publish date:


NEW YORK (TheStreet) -- Spot gold prices are stronger Thursday afternoon as the broader equities fall on an unexpected increase in initial weekly jobless claims, offsetting uplifting news about private-sector job growth in July in the previous session.

New York spot gold prices were rising $1.60, or 0.1% , to $1,197.20 an ounce Thursday afternoon.

Image placeholder title

New York spot silver prices were flat at $18.34 an ounce.

Image placeholder title

New York spot platinum prices, meanwhile were falling $10, or 0.6%, to $1,569 an ounce, while its sister metal was losing traction.

New York spot palladium prices were slipping by $1, or 0.2%, to $495 an ounce.

Image placeholder title

Mining stocks and exchange-traded funds (ETFs) were trading in mixed territory Thursday afternoon. Mining stocks offer another form of exposure to precious metals.

Stillwater Mining

(SWC)

was falling 1.5% to $14.07, while

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

was tumbling 1.4% to $73.98.

ETFS Physical Palladium Shares

(PALL) - Get Report

was inching down 0.2% to $49.61 and

iShares Silver Trust

(SLV) - Get Report

was 0.2% higher at $17.96.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>Spot Metals Roundup, 8/04: Spot Gold Prices Firm With Limited Gains

>>Spot Metals Roundup, 8/3: Spot Gold Rises as China Expands Market

>> Spot Metals Roundup, 8/02: Spot Gold Prices In Tight Trading Range

>> Spot Metals Roundup, 7/30: Spot Gold Prices Climb

Get more stock ideas and investing advice on our sister site,

Stockpickr.com.

Follow Andrea Tse on

Twitter

and become a fan on

Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.