Spot Gold Prices Jump

Spot gold prices bounce back Thursday afternoon as an unexpected jump in initial jobless claims aggravated worries about the economic recovery and decreased risk appetite.
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NEW YORK (TheStreet) -- Spot gold prices have bounced back as an unexpected jump in initial jobless claims aggravated worries about the economic recovery and decreased risk appetite.

New York spot gold prices were popping by $16.80, or 1.4%, to $1,214.70 an ounce Thursday afternoon.

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New York spot silver prices were higher by 14 cents, or 0.8%, at $18.02 an ounce.

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New York spot platinum prices, meanwhile were up by $9, or 0.6%, to $1,524 an ounce, while its sister metal was gaining traction.

New York spot palladium prices were adding $3, or 0.7%, to $467 an ounce.

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

Stillwater Mining

(SWC)

was inching up by 0.5% to $12.75, while

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

was edging up by 0.4% to $70.29.

ETFS Physical Palladium Shares

(PALL) - Get Report

was advancing by 1% to $46.70 and

iShares Silver Trust

(SLV) - Get Report

was 0.7% higher at $17.65.

-- Reported by Andrea Tse in New York

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