NEW YORK (TheStreet) -- Spot gold prices are gaining ground as investors seek an alternative investment to currencies amid a sliding dollar and worsening concerns about economic stability in debt-laden Europe.

Spot gold prices are rising $13.20, or 1.1%, to $1,234.60 an ounce Tuesday afternoon.
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New York spot silver prices are increasing 39 cents, or 2.1%, to $18.59 an ounce.
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New York spot platinum prices, meanwhile, are adding $13, or 0.8%, to $1,571 an ounce, while its sister metal is gaining traction.


New York spot palladium prices are rising $14, or 3.1%, to $470 an ounce.

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Mining stocks and metals ETFs are gaining traction Tuesday afternoon. Mining stocks offer another form of exposure to precious metals.

North American Palladium ( PAL) is rising 4% to $3.46, while Stillwater Mining Company ( SWC) is increasing 4.7% to $13.64.

ETFS Physical Palladium Shares ( PALL - Get Report) are advancing 3.2% to $47.17, while Newmont Mining ( NEM - Get Report) is gaining 2.8% to $56.46.

-- Reported by Andrea Tse in New York

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