Spot Gold Steady Amid Eurozone Jitters

Spot gold prices achieved traction even as the dollar gained ground amid a falling euro.
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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.

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New York spot silver prices were down 9 cents, or 0.5% at $18.19.

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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.

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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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