Spot Gold Prices Yield to Stock Markets - TheStreet

Spot Gold Prices Yield to Stock Markets

Spot gold prices have been losing some robustness Monday as equity markets showed more strength following reports of better-than-expected personal spending growth in May.
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NEW YORK (TheStreet) -- Spot gold prices have been losing some robustness Monday as equity markets showed more strength following reports of better-than-expected personal spending growth in May.

Spot gold prices were falling $15.90, or 1.3%, to $1,239.80 an ounce Monday afternoon.

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New York spot silver prices were declining 30 cents, or 1.6%, to $18.80 an ounce.

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New York spot platinum prices, meanwhile, were down $4, or 0.3%, to $1,565 an ounce, while its sister metal was losing ground.

New York spot palladium prices were falling $9, or 1.9%, to $468 an ounce.

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A handful of mining stocks were trading in negative territory Monday afternoon. Mining stocks offer another form of exposure to precious metals.

Stillwater Mining Company

(SWC)

was falling 1.1% to $12.95, while

Silver Wheaton

(SLW)

was declining 1.5% to $21.03.

Hecla Mining

(HL) - Get Report

was losing 2.3% to $5.65, and

Barrick Gold

(ABX)

was down 0.2% to $46.26.

-- Reported by Andrea Tse in New York

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