With the EU summit in full swing, gold prices are getting hammered as investors fret over the likelihood of a Greek exit from the EU. While leaders have pledged to to do all they can to keep the country within the Euro, the writing is on the wall for the country. The can kicking can keep up for so long before it breaks.
With EU fears back at the forefront, the market as a whole is deep in the red with nearly every major sector following it down. Some gold analysts predict that once Greece has a clear path, gold prices should start to recover.
Currently, the gold spot price is down nearly $30 an ounce to $1539.
Gold Stocks
Golden Star Resources, Ltd. (AMEX:GSS) is up 12.20% this morning at $1.01. GSS has traded 3.1 million shares so far today, well above its daily average of 2.1 million shares. GSS shares are seeing a bounce today after the stock fell $0.50 a share over the past three days. The company has a market cap of 266.63 million.
Kinross Gold Corporation (NYSE:KGC) is down 3.75% today at $7.70. KGC has traded 2.1 million shares this morning and trades 9.7 million shares a day on average. KGC shares hit a high of around $8.20 yesterday before selling off towards the close. The company has a market cap of 8.89 billion.
Yamana Gold, Inc. (NYSE:AUY) is down 2.96% in early trading at $13.46. AUY has traded 1.7 million shares so far today and trades 7.3 million shares a day on average. AUY shares are down nearly $1 a share from yesterday’s high of around $14.40. The company has a market cap of 10.15 billion.
Barrick Gold Corporation (NYSE:ABX) is down 1.38% today at $37.10. ABX has traded 1.7 million shares so far today and trades 8.2 million shares a day on average. ABX shares have dropped more than $1 a share in the past two days. The company has a market cap of 37.36 billion.
Goldcorp Inc. (NYSE:GG) is down 1.31% this morning at $34.64. GG has traded 1.6 million shares so far today and trades 6.02 million shares a day on average. GG shares are down $1.40 a share from yesterday’s intraday high. The company has a market cap of 28.30 billion.
Eldorado Gold Corp. (NYSE:EGO) is down 3.89% today at $10.63. EGO has traded 1.6 million shares so far today and trades 4.5 million shares a day on average. EGO shares are down $0.60 a share in the past two days. The company has a market cap of 7.63 billion.
Newmont Mining Corp. (NYSE:NEM) is down 1.50% today at $46.51. NEM has traded 1.5 million shares so far today and trades 7.4 million shares a day on average. NEM shares have dipped the past two days after jumping more than $4 a share last week. The company has a market cap of 23.21 billion.
Gold Fields Ltd. (NYSE:GFI) is down 2.61% today at $12.32. GFI has traded 891 thousand shares so far today and trades 3.7 million shares a day on average. GFI shares are continuing their sell off from yesterday after hitting a high of nearly $13 a share. The company has a market cap of 9 billion.
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