Gold Prices Up Slightly on Housing Data. Gold Stocks to Watch: KGC, ABX, NG, EGO, AUY, NEM, GG, JAG

Gold pricesLackluster housing data is giving gold bulls a renewed sense of hope for QE3. While the FOMC meetings that start today are not expected to be implicit in their support for further stimulus, analysts are thinking members will be dovish towards it.

Central bank buying of gold should help firm up the prices as gold bulls wait for any indication of a renewed QE policy. Demand for for gold also ticked up for gold thanks to an Indian festival.

The spot gold price is currently up just over $5 to $1643 per ounce.

Gold Stocks

Kinross Gold Corporation (NYSE:KGC) is down 0.28% this morning at $8.90. KGC has traded 1.9 million shares so far today and trades 9.2 million shares a day on average. KGC shares have dropped about $0.60 a share in the past week. The company has a market cap of 10.16 billion.

Barrick Gold Corporation (NYSE:ABX) is down 0.40% this morning at $39.53. ABX has traded 1.4 million shares so far today and trades 7.7 million shares a day on average. ABX shares have fallen as much as $2 a share in the past week. The company has a market cap of 39.72 billion.

NovaGold Resources Inc. (AMEX:NG) is down 0.30% this morning at $6.63. NG has traded 1.1 million shares already today and averages 4.4 million shares daily. NG shares have traded in a range between $6.40 and $6.70 over the past week. The company has a market cap of 1.85 billion.

Eldorado Gold Corp. (NYSE:EGO) is up 0.91% today at $13.28. EGO has traded 1.2 million shares this morning and trades 4.1 million shares a day on average. EGO shares took a big hit yesterday as it fell more than $1 a share. The company has a market cap of 7.33 billion.

Yamana Gold, Inc. (NYSE:AUY) is down 0.81% in early trading at $13.98. AUY has traded 1.1 million shares so far today and trades 7.6 million shares a day on average. AUY shares have dropped close to $1 a share in the past five days. The company has a market cap of 10.45 billion.

Newmont Mining Corp. (NYSE:NEM) is up 0.15% today at $46.37. NEM has traded 1.1 million shares this morning and trades 7.1 million shares a day on average. NEM shares have dropped as much as $3 a share in the past three days. The company has a market cap of 22.98 billion.

Goldcorp Inc. (NYSE:GG) is down 0.35% this morning at $39.89. GG has traded 774 thousand shares so far today and trades 5.4 million shares a day on average. GG shares fell $2 a share yesterday. The company has a market cap of 32.41 billion.

Jaguar Mining Inc. (NYSE:JAG) is up 1.05% today at $2.88. JAG has traded 429 thousand shares so far today and trades 1.7 million shares a day on average. JAG shares are have dropped $0.50 a share in the past week. The company has a market cap of 241.83 million.

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About Martin Stephenson

An avid market watcher, Martin enjoys the tech arena the most with the Nasdaq being his main area of focus. A finance major, Martin is working to the goal of one day ringing the bell at the NYSE.

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