Spot Gold Prices Propped Up by Dollar
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.
New York spot silver prices, meanwhile, are up 12 cents, or 0.7% to $17.84 an ounce, Tuesday afternoon.
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.
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
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>>Spot Metals Roundup, 4/19: Spot Gold Melts Under Goldman's Heat
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