NEW YORK (TheStreet) -- New York spot gold prices were heading lower Thursday afternoon, but not as sharply as the previous session, as the tide appeared to be stemmed by investors moving into the yellow metal at lower prices.

Spot gold prices were dropping by $7.40, or 0.6%, to $1184 an ounce Thursday afternoon.
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New York spot silver prices were losing 41 cents, or 2.3%, to $17.79 an ounce.
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New York spot platinum prices, meanwhile, were falling $89, or 5.6%, to $1512 an ounce, while its sister metal was also losing traction.


New York spot palladium prices were falling $39, or 8.5%, to $419 an ounce.

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Mining stocks were hemorrhaging Thursday afternoon. Mining stocks offer another form of exposure to precious metals.

North American Palladium ( PAL) was surrendering 10% to $3.06 and Silvercorp Metals ( SVM - Get Report) was falling 8.2% to $6.48.

Meanwhile, Stillwater Mining ( SWC) was tumbling 6.4% to $12.31 and Kinross Gold ( KGC - Get Report) was losing 4.3% to $16.60.

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-- Reported by Andrea Tse in New York

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