Spot Gold Prices Tumble
NEW YORK (TheStreet) -- Spot gold prices were losing traction Friday afternoon as the broader equity markets fell and investors sought cash.
New York spot gold prices were falling $18.60, or 1.5%, to $1,189.80 an ounce Friday afternoon.
New York spot silver prices were losing 47 cents, or 2.6%, to $17.86 an ounce.
New York spot platinum prices, meanwhile, were surrendering $14, or 0.9%, to $1,514 an ounce, while its sister metal was falling.
More on Commodities |
New York spot palladium prices were down by $15, or 3.2%, at $451 an ounce.
A handful of mining stocks and exchange-traded funds (ETFs) were falling Friday afternoon. Mining stocks offer another form of exposure to precious metals.
Silver Wheaton
(SLW)
was down 3.5% to $18.57 while
Freeport-McMoRan Copper & Gold
(FCX) - Get Freeport-McMoRan Inc. Report
was falling 5% to $62.02.
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ETFS Physical Palladium Shares
(PALL) - Get abrdn Physical Palladium Shares ETF Report
was sliding 2.9% to $45.19 and
SPDR Gold Trust
(GLD) - Get SPDR Gold Shares ETF Report
was trading 1.6% lower to $116.35.
-- Reported by Andrea Tse in New York.
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