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Spot Gold Prices Gain Traction

Spot gold prices are rising with the broader equities Monday in advance of an expected Fed reserve announcement of more quantitative easing.
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NEW YORK (TheStreet) -- Spot gold prices were rising with the broader equities Monday, a day before an expected Fed reserve announcement of more quantitative easing.

New York spot gold prices were advancing by $4.50, or 0.4%, to $1,279.20 an ounce Monday afternoon.

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New York spot silver prices were two cents, or 0.1% higher, at $20.79 an ounce.

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New York spot platinum prices, meanwhile were rising by $14, or 0.9%, to $1,627 an ounce, while its sister metal was losing ground.

New York spot palladium prices were falling by $4, or 0.7%, to $537 an ounce.

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A number of mining stocks were trading in positive territory Monday afternoon. Mining stocks offer another form of exposure to precious metals.

Newmont Mining

(NEM) - Get Newmont Corporation Report

stock was rising by 0.4% to $63.29 and

Barrick Gold

(ABX)

stock was adding 1.6% to $46.73.

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Pan American Silver

(PAAS) - Get Pan American Silver Corp. Report

stock was moving higher by 1.7% to $28.92, while

Silver Wheaton

(SLW)

stock was edging up by 0.4% to $25.13.

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-- Written by Andrea Tse in New York.

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