Spot Gold Prices Pop

Spot gold prices are popping Thursday afternoon as renewed concerns about global inflation prompted investor interest in inflation hedges.
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NEW YORK (TheStreet) -- Spot gold prices were popping Thursday afternoon as renewed concerns about global inflation prompted investors to seek out inflation hedges.

New York spot gold prices were higher by $5.80, or 0.5%, to $1,274 an ounce Thursday afternoon.

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New York spot silver prices were adding 19 cents, or 0.9%, to $20.79 an ounce.

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New York spot platinum prices, meanwhile were up by $3, or 0.2%, to $1,609 an ounce, while its sister metal was losing ground.

New York spot palladium prices were lower by $5, or 0.9%, to $549 an ounce.

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A number of mining stocks were trading in positive territory Thursday afternoon. Mining stocks offer another form of exposure to precious metals.

Newmont Mining

(NEM) - Get Report

was advancing by 0.4% to $63.15 and

Barrick Gold

(ABX)

was adding 1.9% to $45.84.

Pan American Silver

(PAAS) - Get Report

was rising 2.7% to $28.85 and

Silver Wheaton

(SLW)

was increasing 2.5% to $25.43.

Earnings Calendar

-- Written by Andrea Tse in New York.

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