Gold miners slumped Wednesday as futures for the commodity slumped to four-month lows after minutes form the Federal Reserve Policy meeting suggest officials were still considering ways to exit or curb stimulus measures. "The minutes bring the risk of Fed tapering back to the forefront, even though many policymakers had said in public that it would not happen in the near future," said Frank McGhee, head precious metals dealer with Integrated Brokerage Services LLC. The Market Vectors Gold Miners ETF (NYSEARCA: GDX) fell 3.55 percent, while the Market Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) declined 4.83 percent. Gold futures have fallen approximately 25.0 percent in 2013.
Agnico Eagle Mines Ltd. (NYSE: AEM) shares traded in the range of $25.98 to $26.97 Thursday before settling to close at $26.45, a decrease of 2.18 percent. The stock appears to be facing some resistance at the $26.94 and $27.91 levels with some support at $26.34. Shares of Agnico Eagle Mines have fallen approximately 50.0 percent in 2013.
More information on Agnico Eagle Mines and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AEM
Compania de Minas Buenaventura SAA (NYSE: BVN) shares traded in the range of $11.85 to $12.28 Thursday before settling to close at $11.98, a decrease of 2.76 percent. The stock appears to be facing some resistance at the $12.32 and $13.19 levels with some support at $11.54. Shares of Buenaventura have fallen approximately 66.0 percent in 2013.
More information on Buenaventura and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BVN
Gold Fields Limited (NYSE: GFI) shares traded in the range of $4.08 to $4.20 Thursday before settling to close at $4.13, a decrease of 5.71 percent. The stock appears to be facing some resistance at the $4.50, $4.77 and $4.89 levels. Shares of Gold Fields have fallen approximately 67.0 percent in 2013.
More information on Gold Fields and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GFI
Sandstorm Gold Ltd. (NYSEMKT: SAND)(TSX: SSL) shares traded in the range of $4.34 to $4.59 Thursday before settling to close at $4.46, a decrease of 3.88 percent. The stock appears to be facing some resistance at the $4.60, $4.77 and $5.03 levels. Shares of Sandstorm Gold have fallen approximately 60.0 percent in 2013.
More information on Sandstorm Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SAND
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