Spot Gold Prices Propped Up by Dollar

New York spot gold prices firm up a tad Tuesday, as the dollar slides against other major currencies.
Author:
Publish date:


NEW YORK (TheStreet) -- New York spot gold prices firmed up a tad Tuesday, as the dollar slid a bit against other major currencies.

Spot gold prices have risen $4.90, or about 0.4%, to $1,140.10 an ounce at the end of Tuesday's trading session.

"A small drop in the U.S. dollar and a near-$1 gain in crude oil this morning were sufficient to spark a rebound in bullion prices following yesterday's hesitation," Kitco analyst Jon Nadler noted on Tuesday.

Image placeholder title

New York spot silver prices, meanwhile, are up 12 cents, or 0.7% to $17.84 an ounce, Tuesday afternoon.

Image placeholder title

New York spot platinum prices have added $22, or 1.3%, to $1,717 an ounce, while its sister metal has gained traction.

New York spot palladium prices were up $14, or 2.6% to $550 an ounce.

Image placeholder title

Mining stocks, which offer another form of exposure to precious metals, were largely trading in positive territory Tuesday afternoon.

Pan American Silver

(PAAS) - Get Report

stock has risen 1.9% to $25.60, while

Hecla Mining

(HL) - Get Report

stock is up 2.7% to $5.70.

Stillwater Mining

(SWC)

stock has gained 2.6% to $16.90.

Meanwhile,

ETFS Physical Palladium Shares

(PALL) - Get Report

have advanced 2.7% to $55.20.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>Spot Metals Roundup, 4/19: Spot Gold Melts Under Goldman's Heat

>>Spot Metals Roundup, 4/16: Spot Gold Prices Succumb to Dollar

>> Spot Metals Roundup, 4/15: Spot Gold Shows Dollar Defiance

>>Spot Metals Roundup, 4/14: Spot Gold Prices Rise With Euro

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.