Spot Gold Prices Sag

Spot gold prices are falling as the dollar strengthened ahead of a key FOMC announcement on the fed funds rate.
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NEW YORK (TheStreet) -- Spot gold prices were falling as the dollar strengthened ahead of a key FOMC announcement on the fed funds rate.

The Fed, as expected, left the rate unchanged, at the 0% to 0.25% range.

The U.S. dollar index has been up 0.7% to $81.32.

New York spot gold prices were falling $4.80, or 0.4%, to $1,196.40 an ounce Tuesday afternoon.

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New York spot silver prices were down 11 cents, or 0.6%, at $18.22 an ounce.

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New York spot platinum prices, meanwhile were declining $7, or 0.5%, to $1,535 an ounce, while its sister metal was losing traction.

New York spot palladium prices were sliding by $5, or 1.1%, to $471 an ounce.

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

Stillwater Mining

(SWC)

was falling 3.7% to $13.44 while

Freeport-McMoRan Copper & Gold

(FCX) - Get Report

was tumbling by 2.3% to $73.03.

ETFS Physical Palladium Shares

(PALL) - Get Report

was 1% lower to $47.22 and

iShares Silver Trust

(SLV) - Get Report

was 0.3% higher to $18.02.

-- Reported by Andrea Tse in New York

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