Gold is starting off the quarter drifting. Demand concerns out of India and Turkey are weighing on investors. The Fed speech last week helped prop up the price, but the unknown factor of when is weighing on the market.
The tempering of near-term demand is not being picked up by investor demand so it is keeping the metal rangebound. If QE3 gets announced later this month then the rally will be back on. But if the macro data keeps the perception of a recovery then one wonders if the Fed will indeed pull the trigger.
Gold prices are currently up just under $4 to 1,675.80.
Gold Stocks Update
Barrick Gold Corporation (NYSE:ABX) is up 1.08% this morning at $43.95. ABX has traded 629 thousand shares a day on average and trades 7.5 million shares a day on average. ABX shares are up more than $1 a share in the past three trading sessions after trading below $42.5 on Thursday. The company has a market cap of 43.90 billion.
SPDR Gold Shares (NYSEARCA:GLD) is up 0.33% in early trading at $162.65. GLD has traded 1.1 million shares so far today and trades 12.1 million shares daily. GLD shares are up more than $2 since Thursday.
Yamana Gold, Inc. (NYSE:AUY) is up 1.54% today at $15.85. AUY has traded 699 thousand shares this morning and trades 7.2 million shares a day on average. AUY shares are up nearly $1 as AUY jumps for the second straight day. The company has a market cap of 11.81 billion.
Kinross Gold Corporation (NYSE:KGC) is up 1.53% today at $9.94. KGC has traded 915 thousand shares so far today and trades 9.5 million shares a day on average. KGC shares are up $0.40 a share in the past few days. The company has a market cap of 11.27 billion.
Goldcorp Inc. (NYSE:GG) is up 1.40% today at $45.67. GG has traded 650 thousand shares so far today and trades 5.1 million shares a day on average. GG shares are up close to $2 a share since Thursday. The company has a market cap of 37.01 billion.
Iamgold Corp. (NYSE:IAG) is up 1.81% this morning at $13.53. IAG has traded 243 thousand shares so far today and trades 2.6 million shares a day on average. IAG shares are up more than $0.50 in the past few days. The company has a market cap of 5.07 billion.
New Gold, Inc. (AMEX:NGD) is up 1.52% today at $10.04. NGD has traded 367 thousand shares so far today and trades 2.9 million shares a day on average. NGD shares are up $0.40 a share in the past week. The company has a market cap of 4.64 billion.
Eldorado Gold Corp. (NYSE:EGO) is up 0.99% this morning at $13.88. EGO has traded 438 thousand shares in early trading and trades 3.6 million shares a day on average. EGO shares are up nearly $1 a share since Thursday. The company has a market cap of 7.64 billion.
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