Gold miners have rallied in recent week alongside gold prices. Prices for the precious metal have rallied approximately 20 percent since its low of $1,180.20 an ounce in June. The Market Vectors Gold Miners ETF (NYSEARCA: GDX) and the Market Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) have posted gains of 4.81 percent and 15.38 percent, respectively, in the past month. "Geopolitical tensions in Syria are one of the factors which will be supporting gold prices in coming sessions," said Nic Brown commodities analyst at Natixis in London. "And you also have the latest data out of the United States over the past couple of sessions that was relatively weak and raised the question mark over the timing of the U.S. Fed tapering," he added.
Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) shares traded in the range of $18.87 to $19.89 Thursday before settling to close at $19.69, an increase of 1.86 percent. The stock appears to be facing some resistance at the $19.85 and $21.23 levels with some support at $18.21. Shares of Barrick Gold have gained approximately 12.2 percent in the past month.
More information on Barrick Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ABX
Yamana Gold Inc. (NYSE: AUY)(TSX: YRI) shares traded in the range of $10.92 to $11.67 Thursday before settling to close at $11.51, an increase of 2.13 percent. The stock appears to be facing some resistance at the $12.15 and $12.70 levels with some support at $11.32. Shares of Yamana Gold have gained approximately 8.00 percent in the past month.
More information on Yamana Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AUY
Eldorado Gold Corp. (NYSE: EGO)(TSX: ELD) shares traded in the range of $8.27 to $8.82 Thursday before settling to close at $8.64, an increase of 0.93 percent. The stock appears to be facing some resistance at the $8.77 and $9.33 levels with some support at $8.47. Shares of Eldorado Gold have gained approximately 5.0 percent in the past month.
More information on Eldorado Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EGO
Newmont Mining Corp. (NYSE: NEM) shares traded in the range of $30.72 to $32.12 Thursday before settling to close at $31.83, an increase of 1.56 percent. The stock appears to be facing some resistance at the $33.35 and $34.02 levels with some support at $31.19. Shares of Newmont Mining have gained approximately 5.7 percent in the past month.
More information on Newmont Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NEM
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