Spot Gold Shows Dollar Defiance

New York spot gold prices have been showing some defiance in the face of a rising U.S. dollar.
Author:
Publish date:


NEW YORK (TheStreet) -- New York spot gold prices have been showing defiance in the face of a rising U.S. dollar on Thursday.

Spot gold prices were rising $4.10, or about 0.4%, to $1,158.90 an ounce in afternoon action Thursday.

"The US dollar resumed its climb after a couple of wobbly sessions and traders were largely sidelined as they awaited a slew of U.S. economic data today and tomorrow," Kitco analyst Jon Nadler wrote in a report Thursday.

Image placeholder title

New York spot silver prices, meanwhile, were losing 2 cents, or 0.1%, to $18.40 an ounce.

Image placeholder title

New York spot platinum prices were falling $9, or 0.5%, to $1,719 an ounce, while its sister metal, palladium, lost traction.

New York spot palladium prices were down $4, or 0.7%, to $543 an ounce.

Image placeholder title

Mining stocks, which offer another form of exposure to precious metals, were trading in mixed territory Thursday afternoon.

North American Palladium

(PAL)

stock shot up 5.9% to $5.20, while

Stillwater Mining

(SWC)

added 1.8% to $16.80.

Silvercorp Metals

(SVM) - Get Report

lost 0.4% to $7.60, while

Silver Wheaton

(SLW)

edged up 0.8% to $17.60.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>Spot Metals Roundup, 4/14: Spot Gold Prices Rise With Euro

>>Spot Metals Roundup, 4/13: Spot Gold Prices Lose Traction

>> Spot Metals Roundup, 4/12: Spot Gold Prices Soften on Greece News

>>Spot Metals Roundup, 4/09: Spot Gold Price Up on Greece Woes

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.