Spot Gold Prices Tumble

Spot gold prices are losing traction Friday afternoon as the broader equity markets fell and investors sought cash.
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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.

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New York spot silver prices were losing 47 cents, or 2.6%, to $17.86 an ounce.

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New York spot platinum prices, meanwhile, were surrendering $14, or 0.9%, to $1,514 an ounce, while its sister metal was falling.

New York spot palladium prices were down by $15, or 3.2%, at $451 an ounce.

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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 Report

was falling 5% to $62.02.

ETFS Physical Palladium Shares

(PALL) - Get Report

was sliding 2.9% to $45.19 and

SPDR Gold Trust

(GLD) - Get Report

was trading 1.6% lower to $116.35.

-- Reported by Andrea Tse in New York.

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>>Spot Metals Roundup, 7/15: Spot Gold Prices Lack Direction

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>> Spot Metals Roundup, 7/12: Spot Gold Prices Fall With Firmer Dollar

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