Spot Gold Prices Track Higher
NEW YORK (TheStreet) -- Spot gold prices regained some momentum Tuesday afternoon after the Federal Open Market Committee provided investors with more clarity on where the economy is headed.
As many had expected, the FOMC again kept its target interest rate near zero.
New York spot gold prices were gaining $10.90, or 0.9%, to $1,289.40 an ounce Tuesday afternoon.
New York spot silver prices were rising by 20 cents, or 1%, at $20.93 an ounce.
New York spot platinum prices, meanwhile were rising by $2, or 0.1%, to $1,625 an ounce, while its sister metal was slipping.
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New York spot palladium prices were falling by $3, or 0.6%, to $534 an ounce.
A number of mining stocks, which offer another form of exposure to precious metals, traded in mixed territory Tuesday afternoon.
Newmont Mining
(NEM) - Get Newmont Corporation Report
stock was rising by 1.6% to $64.26, and
Barrick Gold
(ABX)
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was adding 0.9% to $46.85.
Pan American Silver
(PAAS) - Get Pan American Silver Corp. Report
was falling 0.8% to $28.63, and
Silver Wheaton
(SLW)
was inching up by 0.1% to $25.12.
-- Written by Andrea Tse in New York.
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