Spot Gold Shows Dollar Defiance
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.
New York spot silver prices, meanwhile, were losing 2 cents, or 0.1%, to $18.40 an ounce.
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.
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 This material may not be published, broadcast, rewritten, or redistributed.
