Gold Shines Amid Market Sell-Off (GLD)
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(Updated - August 15, 2013 1:21 PM EDT)
With the Dow and the S&P in the dumps, gold and gold miner stocks caught a shine on Thursday, extended gains mid-day. Resistance clustered around $1350/oz broke in afternoon trading, triggering a rally above $1365.
Goldcorp Inc. (NYSE: GG), Barrick Gold Corporation (NYSE: ABX) Newmont Mining Corporation (NYSE: NEM) and Yamana Gold, Inc. (NYSE: AUY), and other miners moved higher. SPDR Gold Shares (NYSE: GLD) and iShares Gold Trust (NYSE: IAU) also saw action.
Traders are watching developments in the Middle East, bond rates in the U.S., and the sell-off in equities.
With the Dow and the S&P in the dumps, gold and gold miner stocks caught a shine on Thursday, extended gains mid-day. Resistance clustered around $1350/oz broke in afternoon trading, triggering a rally above $1365.
Goldcorp Inc. (NYSE: GG), Barrick Gold Corporation (NYSE: ABX) Newmont Mining Corporation (NYSE: NEM) and Yamana Gold, Inc. (NYSE: AUY), and other miners moved higher. SPDR Gold Shares (NYSE: GLD) and iShares Gold Trust (NYSE: IAU) also saw action.
Traders are watching developments in the Middle East, bond rates in the U.S., and the sell-off in equities.
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