Gold Price Break Downward Streak, Gold Stocks to Watch

Gold prices are looking to break a multi-day losing streak today. Gold is currently trading up $12.30 at $1,684.40. The price of gold took a hit along with everything else in yesterday’s market wide sell off. Everyone’s favorite bear, Marc Faber, continues to be a big bull when it comes to gold. He believes that a war between in Iran and Israel is “almost inevitable.” Faber recommends investors “have to be in gold and stocks.”

As long as today’s market rally continues, it looks like gold should close positive.

Gold Stocks to Watch

Goldcorp Inc. (NYSE:GG) is down 1.13% in midday trading at $46.36. GG has traded 2.7 million shares so far today and trades close to 5 million shares a day on average. Goldcorp has dropped nearly $4 a share in the past five days. On March 5, Goldcorp announced its third monthly dividend payment for 2012 of $0.045 per share. The company has a market cap of 37.60 billion.

Eldorado Gold Corp. (NYSE:EGO) is down 0.64% today at $14.00. EGO is trading average volume today with 1.9 million shares traded and trades 3.7 million shares everyday on average. EGO shares have dropped $1.50 over since last Thursday. The company has a market cap of 7.74 billion.

Kinross Gold Corporation (NYSE:KGC) is up 0.47% today at $10.62. Kinross is bouncing back slightly today after falling more than $1 over the past few days. KGC has traded 5.3 million shares so far today and trades 8.8 million shares a day on average.

Barrick Gold Corporation (NYSE:ABX) is down 0.33% today at $45.88. ABX has traded 3.8 million shares in midday trading and trades about 7 million shares a day on average. ABX shares have dropped close to $3 in the past five days. The company has a market cap of 45.52 billion.

Iamgold Corporation (NYSE:IAG) is down 0.63% in midday trading at $14.20. IAG has traded over a million shares already today and trades 2.4 million shares on average. IAG shares have fallen about $1 since last Thursday. The company has a market cap of 5.33 billion.

SPDR Gold Trust (NYSEARCA:GLD) is up 0.51% today at $163.54. GLD has traded 5.9 million shares so far today and trades 12.9 million shares a day on average. SPDR is bouncing back slightly today after falling more than $5 over the past week.