Disappointing employment numbers continued to push gold prices higher Monday. Gold for April delivery settled at $1,274.70 a troy ounce on the Comex division of the New York Mercantile Exchange Monday, the highest since November 15th. The Market Vectors Gold Miners ETF (NYSEARCA: GDX) and the Market Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) posted gains of 3.22 percent and 4.20 percent, respectively. Additionally, the reopening of China’s markets after the Lunar New Year holiday caused a spike in Chinese buying. The China Gold Association has recently reported Chinese consumers purchased 1,176.4 metric tons of the precious metal last year, an increase of 41.0 percent year-over-year.
Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) shares traded in the range of $19.10 to $19.28 Monday before settling to close at $19.28, an increase of 2.06 percent. The stock appears to be facing some resistance at the $19.50 and $20.11 levels with some support at $18.91 and $18.38. Shares of Barrick Gold have gained approximately 10.0 percent year-to-date.
More information on Barrick Gold and access to the free equity report can be found at:
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Agnico Eagle Mines Ltd. (NYSE: AEM)(TSX: AEM) shares traded in the range of $32.82 to $34.50 Monday before settling to close at $33.96, an increase of 5.11 percent. The stock appears to have some support at the $33.67, $32.59 and $31.30 levels. Shares of Agnico Eagle Mines have gained approximately 28.0 percent year-to-date.
More information on Agnico Eagle Mines and access to the free equity report can be found at:
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Goldcorp Inc. (NYSE: GG)(TSX: G) shares traded in the range of $25.89 to $26.54 Monday before settling to close at $26.05, an increase of 2.0 percent. The stock appears to be facing some resistance at the $27.10 and $28.59 levels with some support at $24.90 and $23.31. Shares of Goldcorp have gained approximately 20.0 percent year-to-date.
More information on Goldcorp and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GG
Newmont Mining Corp. (NYSE: NEM) shares traded in the range of $21.75 to $22.43 Monday before settling to close at $22.20, an increase of 3.16 percent. The stock appears to be facing some resistance at the $22.55 and $23.18 levels with some support at $21.66. Shares of Newmont Mining have fallen approximately 4.0 percent year-to-date.
More information on Newmont Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NEM
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