NEW YORK ( TheStreet) -- New York spot gold prices have lost ground mid-afternoon, as the dollar gains strength against major currencies, supported by chatter about global interest rate hikes, among other factors.

"The combination of apprehensions -- one set related to Greece and its woes, the other concerning the surprise interest rate hike by India -- that have now come to dominate the mindset of a hitherto eager-to-take-on-risk (and risk assets) crowd is at the root of these recent sell-offs," Kitco analyst Jon Nadler writes.

Spot gold prices have fallen $10.10, or 0.9%, to $1,097.80 an ounce.
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New York spot silver prices have lost 9 cents, or 0.5%, to $16.87 an ounce in the intraday.
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New York spot platinum prices have fallen by $8, or 0.5%, to $1,597 an ounce, while its sister metal has also lost ground.

New York spot palladium prices have lost $13, or 2.8% Monday afternoon at $452 an ounce.

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Mining stocks, which offer another form of exposure to precious metals, are trading in the red. Stillwater Mining ( SWC) has slid 1.2% to $13.30, while ETFS Physical Palladium Shares ( PALL) has tumbled 2.4% to $45.70.

Goldcorp ( GG) has fallen 1.5% to $38.30, while Hecla Mining ( HL) is down 0.7% to $5.50.

-- Reported by Andrea Tse in New York


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