Spot Gold Prices Lose Some Luster

Spot gold prices softened Monday as the appetite for gold weakened at the fading of Euro-zone debt contagion fears after the EU's $1 trillion plan to control its debt crisis.
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NEW YORK (TheStreet) -- New York spot gold prices softened Monday as the appetite for gold weakened amid fading Euro-zone debt contagion fears, as the EU revealed its $1 trillion plan to control its debt crisis.

Spot gold prices were falling $5.50, or 0.5% to $1202.50 an ounce Monday afternoon.

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New York spot silver prices were rising 15 cents, or 0.8%, at $18.55 an ounce.

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New York spot platinum prices, meanwhile, were up $26, or 1.6%, to $1,686 an ounce, while its sister metal was gaining traction.

New York spot palladium prices were advancing $12, or 2.4%, at $523 an ounce.

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A handful of mining stocks were trading in positive territory amid the stock market rally Monday; mining stocks, of course, offer another form of exposure to precious metals.

Barrick Gold

(ABX)

was rising 2.2% to $43.74 while

Newmont Mining

(NEM) - Get Report

was adding 3.3% to $55.16.

North American Palladium

(PAL)

stock was rising 5.8% to $4.17.

Meanwhile,

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

stock was jumping 6.7% to $73.10.

-- Reported by Andrea Tse in New York

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