NEW YORK (TheStreet) -- Spot gold prices were falling ahead of the Thanksgiving holiday as the safe haven asset lost some appeal on news that China was further tightening its money supply and the latest initial jobless claims numbers helped spur the stock market Wednesday.
That and the latest consumer sentiment data, which were shown to have jumped ahead of Thanksgiving, helped boost equities in thin trading. Earlier in the week, the yellow metal's safe haven traits had drawn in investors as geopolitical concerns weighed on their minds, particularly the attack by North Korea on South Korea and the spotlight on Ireland's ailing financial system, with the ongoing European Union debt contagion fears as a backdrop.
New York spot gold prices were shrugging off $2.40, or 0.2%, to $1,374.10 about an hour before the spot market's close on Wednesday.
were tacking on 8 cents, or 0.3%, to $27.59.
New York spot platinum prices were ticking $8 higher, or 0.5%, to $1,657 an ounce as its sister metal progressed.
New York spot palladium prices were up $11, or 1.6%, to $697 an ounce.
Precious metal mining stocks and ETFs -- which offer another form of exposure to precious metals -- settled in mixed territory Wednesday after the market close.
closed at $20.63, up 2.3%, while
ended 0.2% higher at $45.87.
ETFS Physical Palladium Shares
settled at $69.55, higher by 1.5%.
fell 1.3% to $59.82, while
SPDR Gold Trust
lost 0.2% to $134.18.
-- Written by Andrea Tse in New York.
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