Zacks' Voice of the People highlights opportunities with Market Vectors Gold Miners ETF, Yamana Gold, Goldcorp & Royal Gold -...
January 10 2012 - 3:30AM
Zacks
For Immediate Release
Chicago, IL – 01/10/2012 – Zacks highlights commentary from
People and Picks Trader
“inthemoneystocks”.
For more Voice of the People, visit
http://at.zacks.com/?id=5851
Featured Post
Gold Mining Stocks Must Be Traded
There are so many traders and investors that believe that the
gold mining stocks will automatically trade along with gold, the
precious metal; this is not always the case. Every stock has its
own set of issues that it will face. Very often the price of gold
and the gold mining stocks will trade in tandem with each other,
however, there will be times when the mining stocks will lag and
other times when they will lead the price of gold. Each different
gold mining stock must be followed and watched closely on an
individual basis.
These days the Market Vectors Gold Miners
ETF ( GDX) is beginning to form a sideways bullish
base on the daily chart. This type of pattern could setup for
another leg higher. The problem with the GDX is that it is still
trading below the daily chart 50, and 200 moving averages. These
important moving averages will be the next important daily chart
resistance levels for the GDX. Short term traders can watch for
intra-day resistance around the $54.25, and $54.65 levels.
Some leading gold mining stocks that are trading slightly higher
this morning include Yamana Gold Inc (
AUY), Goldcorp Inc ( GG)
and Royal Gold Inc ( RGLD). Traders must
remember that these stocks will not always follow the price of gold
and will trade according to their own cycle.
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YAMANA GOLD INC (AUY): Free Stock Analysis Report
GOLDCORP INC (GG): Free Stock Analysis Report
ROYAL GOLD INC (RGLD): Free Stock Analysis Report
To read this article on Zacks.com click here.
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