Gold prices closed at an 11-week high Friday after disappointing housing data raised hopes of prolonged stimulus measures from the Federal Reserve. On the Comex division of the New York Mercantile Exchange, gold for December delivery closed at $1,395.80 a troy ounce, an increase of 1.8 percent. On Friday, the Commerce Department reported July U.S. new home sales declined 13.4 percent to an annual rate of 394,000 units. "The higher mortgage rates are having an impact on the housing market," said Scott Brown, chief economist with Raymond James. "That makes tapering (bond purchases) somewhat less likely." Here is how some gold stocks reacted Friday:
AuRico Gold Inc. (NYSE: AUQ)(TSX: AUQ) shares traded in the range of $4.73 to $4.95 Friday before settling to close at $4.88, an increase of 1.94 percent. The stock appears to be facing some resistance at the $4.95 and $5.21 levels with some support at $4.82. Shares of AuRico Gold have fallen approximately 40.0 percent in 2013.
More information on AuRico Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AUQ
Gold Fields Limited (NYSE: GFI) shares traded in the range of $5.39 to $5.71 Friday before settling to close at $5.65, a decrease of 1.05 percent. The stock appears to be facing some resistance at the $5.66 and $5.98 levels with some support at $5.37. Shares of Gold Fields have fallen approximately 55.0 percent in 2013.
More information on Gold Fields and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GFI
Goldcorp Inc. (NYSE: GG)(TSX: G) shares traded in the range of $30.35 to $31.44 Friday before settling to close at $31.02, an increase of 1.94 percent. The stock appears to be facing some resistance at the $32.00 and $33.31 levels with some support at $30.91. Shares of Goldcorp have fallen approximately 15.0 percent in 2013.
More information on Goldcorp and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GG
Royal Gold, Inc. (NASDAQ: RGLD)(TSX: RGL) shares traded in the range of $61.69 to $64.56 Friday before settling to close at $63.95, an increase of 3.78 percent. The stock appears to be facing some resistance at the $64.21 and $71.26 levels with some support at $61.74. Shares of Royal Gold have fallen approximately 40.0 percent in 2013.
More information on Royal Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RGLD
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