NEW YORK (TheStreet) -- Spot gold prices ticked down very slightly Thursday afternoon amid a small uptick in the dollar index.
The U.S. dollar index was flat but a tad higher than the previous day's movement.
Still, at least one gold expert said to pay no heed to such day to day fluctuations.
Thursday's slight downtick was almost negligible, but any further dips shouldn't inspire fear among investors -- or, rather, they should be viewed as an opportunity, according to one gold adviser.
"Value-oriented buyers aren't scared by price declines, they relish them as it allows them to purchase more at 'sale' prices," Atyant Capital's managing director Pratik Sharma said. "Smart buyers," he said, "don't chase prices higher, they buy on pullbacks."
That said, Sharma noted that investors shouldn't allow themselves to be consumed by the price of gold on a daily basis. After all, he said, gold is a form of insurance; it's an asset not to be traded. "It is insurance and should be regarded as such," he emphasized.
New York spot gold prices were falling by $15.10, or 1.1%, to $1,334 an ounce Thursday afternoon.
were sinking by 66 cents, or 2.9%, at $22.53.
New York spot platinum prices were retreating by $16, or 0.9%, at $1,695 an ounce, while its sister metal was slipping.
More on Commodities
New York spot palladium prices were sliding by $2, or 0.3%, at $585 an ounce.
A group of mining stocks and precious metals ETFs were in the red Thursday afternoon. Mining stocks offer another form of exposure to precious metals.
fell by 4.2% to $6.42, while
surrendered 3.4% to $43.64.
tumbled by 3.8% to $15.78.
SPDR Gold Trust ETF
was down by 1.1% to $130.33 and
ETFS Physical Palladium Shares
was 0.6% lower to $58.46.
-- Written by Andrea Tse in New York.
>To contact the writer of this article, click here:
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to:
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.