Gold stocks surged last week as disappointing economic data has increased the likelihood of the Federal Reserve continuing stimulus measures until next year. On Tuesday, the U.S. Labor Department reported nonfarm payrolls grew by 148,000 in September, which was short of economists’ forecast of 180,000 jobs. Additionally, data from the Labor Department showed that initial U.S. jobless claims fell 12,000 to a seasonally adjusted 350,000, which was below economists’ expectations of 340,000 according to Reuters.
AngloGold Ashanti Limited (NYSE: AU) shares traded in the range of $15.57 to $16.13 Friday before settling to close at $16.04, an increase of 0.25 percent. The stock appears to be facing some resistance at the $16.35 and $17.99 levels with some support at $15.61. Shares of AngloGold Ashanti have fallen approximately 48.0 percent in 2013.
More information on AngloGold Ashanti and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AU
Eldorado Gold Corp. (NYSE: EGO)(TSX: ELD) shares traded in the range of $6.73 to $7.00 Friday before settling to close at $6.95, an increase of 0.87 percent. The stock appears to be facing some resistance at the $7.10 and $7.39 levels with some support at $6.93. Shares of Eldorado Gold have fallen approximately 46.0 percent in 2013.
More information on Eldorado Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EGO
IAMGOLD Corp. (NYSE: IAG)(TSX: IMG) shares traded in the range of $5.22 to $5.48 Friday before settling to close at $5.45, an increase of 1.49 percent. The stock appears to be facing some resistance at the $5.66 and $5.80 levels with some support at $5.43. Shares of IAMGOLD have fallen approximately 52.0 percent in 2013.
More information on IAMGOLD and access to the free equity report can be found at:
www.WallStreetFundamentals.com/IAG
New Gold Inc. (NYSEMKT: NGD)(TSX: NGD) shares traded in the range of $6.08 to $6.30 Friday before settling to close at $6.30, an increase of 1.78 percent. The stock appears to be facing some resistance at the $6.49 and $6.71 levels with some support at $6.27. Shares of New Gold have fallen approximately 42.0 percent in 2013.
More information on New Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NGD
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