Even with the market in a frenzy, gold is still in demand. Especially now that the Feds cut rates by 75bp, you can expect the trend to continue. I have claimed GLD to be my true love in the past because of its supreme run, and this is just one example of a solid play on gold.
With that said, here are 6 different stocks that are involved in gold, or gold and silver mining that should be on your watch close watch list.
Goldcorp, GG Stock is looking quite juicy right now at just above $35 a share, with the stock hitting a high last week of $39.94. If the 50 day moving average can start to uptrend again, watch out. As of this post GG stock rests at $35.06.
GG Stock Chart, Click to ViewBarrick Gold Corp, ABX stock has strong exposure internationally and mines gold alongside copper. The stock has found fantastic support recently at $45 which has to have the bulls happy, and is seeing short term resistance around $50. As of this post ABX stock is trading at a last of $48.10.
ABX Stock Chart, Click to View
Randgold Resources, GOLD stock is a play on gold in Africa. The stock has had a fantastic run since early September running from $25 all the way to $45, and as of this post lies at $43.27.
GOLD Stock Chart, Click to View
Kinross Gold, KGC stock has moved nicely as well since early September, and just yesterday the stock found great support at $19 and its 50 day moving average. KGC is a buy above $21.50 and easily has potential to move up to $25 if Gold stocks overall continue to press higher. As of this post KFC sits at $20.20
KGC Stock Chart, Click to View
Buenaventura Comp, BVN stock has seemed to find support at its 50 day moving average, but has fallen under key support area $60 which makes me skeptical. Last week the stock peaked out near $71, and as of this post is at a last of $58.32.
BVN Stock Chart, Click to View
Last but not least everyone has to know about the Streettracks Gold Trust, GLD ETF. $86 is the key level here for the bulls and this ETF has been a favorite since it was trading in the low $70s. Look for intraday resistance between $88 and $90. GLD as of this post is at a last of $87.89.
GLD ETF Chart, Click to View
Some nice potential trades. I especially like ABX and GLD.
any reason since AUY was not listed? (not that I own it, but it was on the front page before as "15 Great Stocks Holding the Trend" and am very intrested in following it (AUY)
Ya know I completely forgot to put it in there to be honest! I don't know how I missed it, it is one my favorites as well.
ok, AUY was downgraded and on top of that a lot of news buzzing on the South African power outage, it still closes up.....hmph, I'd continue to watch this one, I'm looking for any dips currently, but it seems strange to me how this stock is totally unaffected