Spot Gold Prices Weaken on Data
NEW YORK (TheStreet) -- Spot gold prices were tumbling Monday amid a slight rally in the equity markets, after a spate of better-than-expected earnings reports, and weak housing data.
New York spot gold prices were falling $11.10, or 0.9%, to $1,181.90 an ounce Monday afternoon.
New York spot silver prices were losing 30 cents, or 1.7%, to $17.56 an ounce.
New York spot platinum prices, meanwhile, were surrendering $2, or 0.1%, to $1,505 an ounce, while its sister metal was falling.
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New York spot palladium prices were down by $3, or 0.7%, at $445 an ounce.
Mining stocks and exchange-traded funds (ETFs) were trading in mixed territory Monday afternoon. Mining stocks offer another form of exposure to precious metals.
Silver Wheaton
(SLW)
was down 3.4% to $17.96, while
Freeport-McMoRan Copper & Gold
(FCX) - Get Freeport-McMoRan Inc. Report
was rising 1.5% to $60.97.
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ETFS Physical Palladium Shares
(PALL) - Get abrdn Physical Palladium Shares ETF Report
was sliding 0.6% to $44.32 and
iShares Silver Trust
(SLV) - Get iShares Silver Trust Report
was trading 1.6% lower to $17.21.
-- Reported by Andrea Tse in New York.
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