Gold prices are falling today as positive US data has some investors wondering about the scope of the latest stimulus from the Fed. A couple of pieces of data from the retail sector is what is causing investors to wonder about the latest round of QE. Retail sales jumped in September and comes on the heels of consumer confidence hitting a five year high.
Spot gold prices are currently trading down $19.10 at $1,735.20. Let’s take a look at how the biggest gold stocks are reacting to today’s gold price action.
Gold Stocks
Kinross Gold Corporation (NYSE:KGC) is down 1.38% today at $10.04. KGC is trading average volume so far today with 3.9 million shares traded. KGC usually trades about 10.06 million shares. KGC shares have been trending lower over the past five days losing about 6.5%. Kinross Gold has a market cap of 11.51 billion.
Barrick Gold Corporation (NYSE:ABX) is down 1.56% in late morning trading at $38.42. ABX has traded 3.5 million shares so far today and trades 8.09 million shares a day on average. ABX shares have taken an even bigger hit over the past five days, down 7.25%. The company has a market cap of 38.60 billion.
Yamana Gold, Inc. (NYSE:AUY) is down 0.48% today at $18.60. AUY has traded 2.5 million shares so far today and trades 5.8 million shares a day on average. AUY shares have traded mostly flat over the past week, but were trading as high as $19.20 on Thursday. The company has a market cap of 13.91 billion.
Golden Star Resources, Ltd. (NYSE:GSS) is down 0.98% today at $2.02. GSS is seeing heavy volume today with nearly 2.5 million shares traded, 200 thousand shares more than its daily average. GSS shares have been in an uptrend over the past three months as the stock was near its 52 week low of $0.90. The company has a market cap of 520.31 million.
AuRico Gold Inc. (NYSE:AUQ) is up 0.28% in late morning trading at $7.20. AUQ is looking to trade above average volume today as it has already traded 2.01 million shares. AUQ trades 3.1 million shares a day on average. AUQ shares are up more than 9% this week after gold mine sale. The company has a market cap of 2.03 billion.
Eldorado Gold Corp. (NYSE:EGO) is down 0.57% today at $13.92. EGO has traded 1.9 million shares so far today and trades 4.2 million shares a day on average. EGO shares have dropped 11.5% over the past month. The company has a market cap of 9.93 billion.
Goldcorp Inc. (NYSE:GG) is down 1.20% today at $42.96. GG has traded 1.9 million shares so far today and trades 5.08 million shares a day on average. The company has a market cap of 34.77 billion.
About Martin Stephenson
