After yesterday’s route, gold bulls are breathing a sigh of relief as the metal is rebounding. Concerns over Europe are still there and in the short-term could temper any rally in gold prices. The dollar’s gain in recent days has also helped drive gold prices lower.
Long-term, many analysts expect gold to resume its overall trend higher as the global economy continues to falter. If the US economy takes a step back and QE comes back into the picture, expect that to be the rally catalyst gold bulls are looking for.
Currently gold prices are up $26 per ounce to $1574.
Gold Stocks
Barrick Gold Corporation (NYSE:ABX) is up 0.28% this morning at $39.72. ABX has traded 4.6 million shares so far today and trades 8.3 million shares a day on average. ABX shares jumped as much as $3 a share from yesterday’s low of less than $37. The company has a market cap of 39.53 billion.
Yamana Gold, Inc. (NYSE:AUY) is up 1.45% today at $14.70. AUY has traded 3.4 million shares so far today and trades 7.3 million shares a day on average. AUY shares were trading as high as $15.08 this morning, but has sold off slightly from its intraday high. The company has a market cap of 10.92 billion.
Golden Star Resources, Ltd. (AMEX:GSS) is up 3.93% today at $1.0497. GSS has traded 3.9 million shares so far today, well above its daily average of 2.3 million shares. GSS shares are have bounced the past two days after falling as low as $0.90 a share on Tuesday. The company has a market cap of 274.39 million.
Kinross Gold Corporation (NYSE:KGC) is down 0.61% this morning at $8.20. KGC has traded 3.08 million shares so far today and trades 9.7 million shares a day on average. KGC shares bounced more than $0.50 from its low yesterday. KGC shares are dipping today despite gold prices being up. The company has a market cap of 9.26 billion.
Newmont Mining Corp. (NYSE:NEM) is up 1.26% today at $49.15. NEM has traded 3.2 million shares this morning and trades 7.5 million shares a day on average. NEM shares are up more than $3 a share from yesterday’s low of $46. The company has a market cap of 24.24 billion.
Goldcorp Inc. (NYSE:GG) is up 0.72% today at $37.76. GG has traded 2.7 million shares so far today and trades 6.08 million shares a day on average. GG shares are up $3.50 a share from yesterday’s low. The company has a market cap of 30.38 billion.
Eldorado Gold Corp. (NYSE:EGO) is up 2.11% today at $11.64. EGO has traded 2.2 million shares so far today and trades 4.5 million shares a day on average. EGO shares have rallied $1 a share over the past two days. The company has a market cap of 8.22 billion.
Gold Fields Ltd. (NYSE:GFI) is up 0.61% this morning at $13.23. GFI has traded 2.01 million shares so far today and trades 3.7 million shares a day on average. GFI shares are up $1 a share from yesterday’s low of $12.30. The company has a market cap of 9.55 billion.
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