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.
Yamana Gold Inc. (NYSE: AUY)(TSX: YRI) shares traded in the range of $9.26 to $9.78 Monday before settling to close at $9.75, an increase of 6.32 percent. The stock appears to be facing some resistance at the $9.82 and $10.26 levels with some support at $9.21 and $8.42. Shares of Yamana Gold have gained approximately 13.0 percent year-to-date.
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 $6.49 to $6.77 Monday before settling to close at $6.75, an increase of 5.63 percent. The stock appears to be facing some resistance at the $7.17 and $7.40 levels with some support at $6.71 and $6.12. Shares of Eldorado Gold have gained approximately 18.0 percent year-to-date.
More information on Eldorado Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EGO
Kinross Gold Corporation (NYSE: KGC)(TSX: K) shares traded in the range of $4.89 to $5.11 Monday before settling to close at $5.09, an increase of 5.60 percent. The stock appears to be facing some resistance at the $5.17 and $5.36 levels with some support at $5.05 and $4.83. Shares of Kinross Gold have gained approximately 16.0 percent year-to-date.
More information on Kinross Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KGC
New Gold Inc. (NYSEMKT: NGD)(TSX: NGD) shares traded in the range of $5.49 to $5.69 Monday before settling to close at $5.68, an increase of 3.09 percent. The stock appears to be facing some resistance at the $5.96 and $6.32 levels with some support at $5.50 and $5.12. Shares of New Gold have fallen approximately 8.0 percent year-to-date.
More information on New Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NGD
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