Spot Gold Prices Rise as Stocks Fall

Spot gold prices advance after a fall in July existing-home sales sparks fears of a double-dip recession and sent stocks lower.
Author:
Publish date:


NEW YORK (TheStreet) -- Spot gold prices have advanced after a fall in July existing-home sales sparked renewed fears of a double-dip recession and sent stocks lower.

New York spot gold prices were rising by $5.10, or 0.4%, to $1,231 an ounce Tuesday afternoon.

Image placeholder title

New York spot silver prices were increasing by 40 cents, or 2.2%, at $18.39 an ounce.

Image placeholder title

New York spot platinum prices, meanwhile were up by $9, or 0.6%, to $1,515 an ounce, while its sister metal was losing traction.

New York spot palladium prices were sliding by $1, or 0.2%, to $481 an ounce.

Image placeholder title

A handful of mining stocks and exchange-traded funds (ETFs) were relatively unchanged in Tuesday's after-market trading session. Mining stocks offer another form of exposure to precious metals.

SPDR Gold Trust

(GLD) - Get Report

was trading sideways at $120.30 in the after-hours market while

Barrick Gold

(ABX)

was relatively unchanged at $43.81.

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

was trading at $67.09.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here:

Andrea Tse

.

>To follow the writer on Twitter, go to

Andrea Tse

.

>To submit a news tip, send an email to:

tips@thestreet.com

.

RELATED STORIES:

>>Spot Metals Roundup, 8/23: Spot Gold Prices Extend Losses

>> Spot Metals Roundup, 8/20: Inverse Relationship of Spot Gold Fades

>> Spot Metals Roundup, 8/18: Rise of Spot Gold Prices Tempered

>>Spot Metals Roundup, 8/17: Spot Gold Prices Give Back Gains

Get more stock ideas and investing advice on our sister site,

Stockpickr.com.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Follow Andrea Tse 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 This material may not be published, broadcast, rewritten, or redistributed.