NEW YORK (TheStreet) -- New York spot gold prices ended in the red even after minutes from the Fed Reserve's September policy-setting meeting suggested that another round of quantitative easing could occur sooner rather than later.

The minutes were released Tuesday afternoon.

Earlier, Chuck Butler, President of EverBank World Markets, told TheStreet he was surprised by the yellow metal's unenthusiastic reaction to the minutes. "That's puzzling to me. The currencies aren't moving higher either," he said. "And gold has moved so much lately because of the weak dollar."

He went on to say that he doesn't believe the dollar strength "will last too long as the dollar doesn't have any yield to offer investors."

New York spot gold prices ended lower by $3.40, or 0.3%, to $1,350.50 an ounce Tuesday.
Most Recent Quotes from

New York spot silver prices closed slightly higher by 3 cents, or 0.1%, to $23.31.
Most Recent Quotes from

New York spot platinum prices fell by $6, or 0.4%, to $1,676 an ounce, while its sister metal lost traction.

New York spot palladium prices lost $5, or 0.9%, to $581 an ounce.

Most Recent Quotes from

A handful of mining stocks and precious metals ETFs ended Tuesday's trading session in mixed territory. Mining stocks offer another form of exposure to precious metals.

Kinross Gold ( KGC) fell by 1% to $18.94, while North American Palladium ( PAL) rose by 1.6% to $4.42. Newmont Mining ( NEM - Get Report) lost 0.9% at $62. Barrick Gold ( ABX) was down 0.6% to $48.44. Silver Wheaton ( SLW) was up 0.6% to $26.75.

SPDR Gold Trust ETF ( GLD - Get Report) fell 0.3% to $131.96 and ETFS Physical Palladium Shares ( PALL ) tumbled 0.9% to $58. ETFS Physical Platinum ( PPLT ) was down 0.3% to $167.40.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

>To follow the writer on Twitter, go to Andrea Tse.

>To submit a news tip, send an email to:


Copyright 2010 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.