Spot Gold Prices Soften on Greece News

New York spot gold prices softened Monday afternoon as the euro firmed up amid news about promising euro-region emergency aid talks for Greece over the weekend.
Author:
Publish date:


NEW YORK (TheStreet) -- New York spot gold prices softened Monday afternoon as news about promising euro-region emergency aid talks for debt-ladened Greece that occurred over the weekend continued to spread.

Spot gold prices were falling $1.60, or about 0.1%, to $1,159.80 an ounce.

"Against this background of uncertainties

related to fears of Greece defaulting on debtgold prices climbed, " Kitco analyst Jon Nadler wrote in a report on Monday.

Image placeholder title

New York spot silver prices, meanwhile, were down 6 cents, or 0.3%, to $18.33 an ounce Monday afternoon.

Image placeholder title

New York spot platinum prices were rising $10, or 0.6%, to $1,731 an ounce, while its sister metal gained ground.

New York spot palladium prices were up $8, or 1.6% to $519 an ounce.

Image placeholder title

Mining stocks, which offer another form of exposure to precious metals, were trading in mixed territory Monday afternoon.

Kinross Gold

(KGC) - Get Report

stock has risen 0.2% to $18.60, while

Stillwater Mining

(SWC)

shares are at $15.70.

North American Palladium

(PAL)

is down 1.7% to $4.70.

Meanwhile,

ETFS Physical Palladium Shares

(PALL) - Get Report

have risen 1.6% to $52.10.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>Spot Metals Roundup, 4/09: Spot Gold Price Up on Greece Woes

>>Spot Metals Roundup, 4/08: Spot Gold Spurred by Greece Woes

>>Spot Metals Roundup, 4/07: Economic Woes Boost Spot Gold Prices

>> Spot Metals Roundup, 4/06: Spot Gold Prices Up, Platinum Slips

Follow TheStreet.com 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 This material may not be published, broadcast, rewritten, or redistributed.