Spot Gold Prices Firm Amid Equities Decline
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.
New York spot silver prices were flat at $18.34 an ounce.
New York spot platinum prices, meanwhile were falling $10, or 0.6%, to $1,569 an ounce, while its sister metal was losing traction.
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New York spot palladium prices were slipping by $1, or 0.2%, to $495 an ounce.
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 Freeport-McMoRan Inc. Report
was tumbling 1.4% to $73.98.
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ETFS Physical Palladium Shares
(PALL) - Get abrdn Physical Palladium Shares ETF Report
was inching down 0.2% to $49.61 and
iShares Silver Trust
(SLV) - Get iShares Silver Trust Report
was 0.2% higher at $17.96.
-- Reported by Andrea Tse in New York
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