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Spot Gold Prices Lose Ground

Spot gold prices tick lower Monday amid a boost to investor risk appetite after international financial regulations turn out to be less strict than feared.
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NEW YORK (TheStreet) -- Spot gold prices slid Monday afternoon as investors sought to put money to work elsewhere, their appetites for risk whetted by new international banking rules announced over the weekend -- rules that will be rolled out over a longer period than many had expected.

New York spot gold prices were falling $1.50, or 0.1%, to $1,245.20 an ounce Monday afternoon.

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New York spot silver prices, however, were rising 26 cents, or 1.3%, to $20.14 an ounce.

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New York spot platinum prices were up $5, or 0.3%, to $1,545 an ounce, while its sister metal was gaining ground.

New York spot palladium prices were rising by $9, or 1.7%, to $527 an ounce.

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Mining stocks, which offer another form of exposure to precious metals, were mixed Monday afternoon.

Pan American Silver

(PAAS) - Get Pan American Silver Corp. Report

shares were rising 1% to $26.80, and

Barrick Gold

(ABX)

was falling 1% to $44.29.

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Silver Wheaton

(SLW)

was lower by 0.4% at $23.79, and

Newmont Mining

(NEM) - Get Newmont Corporation Report

was down 0.7% to $60.24.

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-- Written by Andrea Tse in New York.

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