Spot Gold Steady Amid Eurozone Jitters
NEW YORK (TheStreet) -- Spot gold prices achieved traction even as the dollar gained ground, the euro fell, and the region's debt worries toyed with the minds of investors.
Spot gold prices were rising $14.60, or about 1.3%, to $1,167.60 an ounce Tuesday afternoon.
Both Greece and Portugal's credit ratings were downgraded by Standard & Poor's. The former's has been reduced to junk status and the latter's has been downgraded two notches.
New York spot silver prices were down 9 cents, or 0.5% at $18.19.
New York spot platinum prices, meanwhile edged down $18, or 1% to $1,723 an ounce, while its sister metal lost traction.
New York spot palladium prices were falling $13, or 2.3%, at $551 an ounce.
A handful of mining stocks were trading in the red Tuesday afternoon. Mining stocks offer another form of exposure to precious metals.
Stillwater Mining
(SWC)
stock tumbled 7.1% to $16.82,
Freeport-McMoRan Copper & Gold
(FCX) - Get Report
fell 4.5% at $76.82, and
Newmont Mining
(NEM) - Get Report
was up 1.2% at $53.85.
Meanwhile,
North American Palladium
(PAL)
shares were lower at $4.82, down 3.7%.
ETFS Physical Palladium Shares
(PALL) - Get Report
were down 2.4% at $55.17.
-- Reported by Andrea Tse in New York
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>> Spot Metals Roundup, 4/26: Spot Gold Prices Fall on Greece Worries
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>> Spot Metals Roundup, 4/21: Spot Gold Prices Up on Earnings Recovery
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