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.
Alamos Gold Inc. (NYSE: AGI)(TSX: AGI) shares traded in the range of $9.27 to $9.69 Monday before settling to close at $9.54, an increase of 3.47 percent. The stock appears to be facing some resistance at the $11.22 and $12.02 levels with some support at $9.11. Shares of Alamos Gold have fallen approximately 20.0 percent year-to-date.
More information on Alamos Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AGI
AngloGold Ashanti Limited (NYSE: AU) shares traded in the range of $15.60 to $16.04 Monday before settling to close at $15.79, an increase of 3.07 percent. The stock appears to be facing some resistance at the $16.01 and $16.36 levels with some support at $15.52 and $14.90. Shares of AngloGold Ashanti have gained approximately 35.0 percent year-to-date.
More information on AngloGold Ashanti and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AU
Gold Fields Limited (NYSE: GFI) shares traded in the range of $3.60 to $3.74 Monday before settling to close at $3.69, an increase of 4.53 percent. The stock appears to be facing some resistance at the $3.99 and $4.34 levels with some support at $3.50 and $2.97. Shares of Gold Fields have gained approximately 15.0 percent year-to-date.
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 $5.19 to $5.49 Monday before settling to close at $5.38, an increase of 4.26 percent. The stock appears to be facing some resistance at the $5.81 and $6.19 levels with some support at $5.25 and $4.77. Shares of Sandstorm Gold have gained approximately 26.0 percent year-to-date.
More information on Sandstorm Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SAND
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