Spot Gold Prices Firm on Currency Flux

Spot gold prices have been gaining ground as investors seek an alternative investment to currencies amid a sliding dollar and worsening concerns about economic stability in debt-laden Europe.
Author:
Publish date:


NEW YORK (TheStreet) -- Spot gold prices are gaining ground as investors seek an alternative investment to currencies amid a sliding dollar and worsening concerns about economic stability in debt-laden Europe.

Spot gold prices are rising $13.20, or 1.1%, to $1,234.60 an ounce Tuesday afternoon.

Image placeholder title

New York spot silver prices are increasing 39 cents, or 2.1%, to $18.59 an ounce.

Image placeholder title

New York spot platinum prices, meanwhile, are adding $13, or 0.8%, to $1,571 an ounce, while its sister metal is gaining traction.

New York spot palladium prices are rising $14, or 3.1%, to $470 an ounce.

Image placeholder title

Mining stocks and metals ETFs are gaining traction Tuesday afternoon. Mining stocks offer another form of exposure to precious metals.

North American Palladium

(PAL)

is rising 4% to $3.46, while

Stillwater Mining Company

(SWC)

is increasing 4.7% to $13.64.

ETFS Physical Palladium Shares

(PALL) - Get Report

are advancing 3.2% to $47.17, while

Newmont Mining

(NEM) - Get Report

is gaining 2.8% to $56.46.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>> Spot Metals Roundup, 6/09: Spot Gold Prices Fall on Macro Reassurances

>> Spot Metals Roundup, 6/08: Spot Spot Gold Prices Firm on Macro Concerns

>>Spot Metals Roundup, 6/04: Spot Gold Gains Traction on Jobs Report

Follow TheStreet.com 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 This material may not be published, broadcast, rewritten, or redistributed.