Spot Gold Prices Retreat

Spot gold prices have been retreating amid a transport-led equities rally driven by uplifting FedEx guidance.
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NEW YORK (TheStreet) -- Spot gold prices have been retreating amid a transport-led equities rally driven by uplifting FedEx (FDX) - Get Report guidance.

New York spot gold prices were falling $6.20, or 0.5%, to $1,183.50 an ounce Monday afternoon.

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New York spot silver prices were trading sideways at $18.20 an ounce.

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New York spot platinum prices, meanwhile, were increasing $12, or 0.8%, to $1,551 an ounce, while its sister metal was gaining traction.

New York spot palladium prices were higher by $11, or 2.4%, at $473 an ounce.

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Mining stocks and exchange-traded funds (ETFs) were trading in positive territory Monday afternoon. Mining stocks offer another form of exposure to precious metals.

Stillwater Mining

(SWC)

was rising 2.7% to $14.16, while

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

was up 0.5% to $71.43.

ETFS Physical Palladium Shares

(PALL) - Get Report

was adding 1.9% to $47.24, while

iShares Silver Trust

(SLV) - Get Report

was edging 0.5% higher to $17.81.

-- Reported by Andrea Tse in New York.

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