Gold Mining Stocks Must Be Traded - Voice of the People
January 09 2012 - 12:02PM
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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.
Nicholas Santiago
InTheMoneyStocks.com
![](http://www.inthemoneystocks.com/images/stories/Nick/2012_01/gdx%201.9.12.jpg)
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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
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