NEW YORK (TheStreet) -- Spot-gold prices were heading higher Thursday afternoon as the inverse relationship between the greenback and yellow metal was reinforced.
The U.S. Dollar Index was losing 0.6% to $78.63 Thursday afternoon. As the greenback sunk, the euro gained strength as concerns about Ireland's debt crisis were relieved by news that the European Union and International Monetary Fund were likely to provide the country with tens of billions of euros in aid.
New York spot gold prices were moving forward by $18.20, or 1.4%, to $1,354 in Thursday afternoon trading.
were gaining $1.26, or 4.9%, to $26.91.
New York spot platinum prices were advancing by $26, or 1.6%, to $1,662 an ounce. Its sister metal was moving up as well.
New York spot palladium prices were advancing by $33, or 5%, to $695 an ounce.
A handful of precious metals mining stocks -- which offer another form of exposure to precious metals -- were exhibiting stronger price action that the yellow metal towards the market close on Thursday.
Freeport-McMoRan Copper & Gold
was adding 3% to $99.74.
was rising by 1.9% to $45.70.
was up 2.1% to $17.80, while
SPDR Gold Trust
was higher by 1.3% to $132.04
-- Written by Andrea Tse in New York.
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