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NEW YORK (TheStreet) -- Spot gold prices were rising Tuesday afternoon as risk appetite fell along with the release of FOMC minutes from its August meeting that kept the key fed funds rate unaltered, and almost at zero.

The FOMC minutes also revealed mixed opinions about the outcome of reinvesting proceeds from agency debt and mortgage-backed securities into long-term Treasuries amid the presence of weak economic indicators.

New York spot gold prices were firming up by $10.80, or 0.9%, to $1,247.20 an ounce Tuesday afternoon.

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New York spot silver prices were adding 29 cents, or 1.5%, at $19.33 an ounce.

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New York spot platinum prices, meanwhile were losing $2, or 0.1%, to $1,521 an ounce, while its sister metal was experiencing gains.

New York spot palladium prices were up by $1, or 0.2%, to $496 an ounce.

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A number of mining stocks and exchange-traded funds (ETFs) were gaining traction Tuesday's afternoon. Mining stocks offer another form of exposure to precious metals.

SPDR Gold Trust

(GLD) - Get SPDR Gold Shares Report

was moving higher by 0.8% to $121.92 as

Barrick Gold


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was rising by 1.4% to $46.98.

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Freeport-McMoRan Copper & Gold

(FCX) - Get Freeport-McMoRan Inc. Report

was advancing by 2.3% to $71.96 while

Newmont Mining

(NEM) - Get Newmont Corporation Report

was rising by 2.4% to $61.36.

-- Written by Andrea Tse in New York.

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