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Jul 1, 2013

This morning, the major stock indexes are all rallying higher at the start of the trading session, but the gold mining stocks are not participating. Today, the Market Vectors Gold Mining ETF (NYSEARCA:GDX) is trading lower by 0.10 cents to $24.39 a share. Day traders can watch for intra-day support levels around the $24.00, $23.70, and $23.34 levels. The daily chart of the GDX still remains in a vulnerable position by trading below the important 20 and 50-day moving averages. This tells us that swing traders will want to remain very short term as volatility is likely to remain high in the gold mining sector.

Some leading gold mining stocks that are declining lower today include Randgold Resources Limited (NASDAQ:GOLD), Newmont Mining Corporation (NYSE:NEM), and Barrick Gold Corporation (NYSE:ABX). Most of the leading gold mining stocks also remain very weak on the daily charts at this time. Traders and investors must expect this industry group to remain volatile in the near term. 

Join us as we day trade these stocks and more live in our Intra Day Stock Chat. The gap trades are easy money makers right now, like this one traded right after the bell this morning. Don't miss this action.

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Posted: Monday July 1, 2013, 7:38 pm
Tags: gold out still are but stall there miners opportunities [add/edit tags]

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Johnny C.
male, age 27,
United Kingdom
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\n m/news/commodities-news/g old-prices-advance-on-ris ing-physical-demand,-mixe d-u.s.-data-251568Gold prices posted hefty gains on Friday on reports that physical demand is picking up, while uncertainty over the fate of moneta...
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\n m/topic/43941/gold-stocks .htmlGold stocks are a popular method for people who want to invest in the rising price of physical gold. Gold stocks can cover mining, production and exploration -- and typically -- have a levered effe...
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\n /wiki/Gold_as_an_investme ntGold has been used throughout history as money and has been a relative standard for currency equivalents specific to economic regions or countries, until recent times. Many European countries implemen...
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\nhttp://www.sciencedaily .com/releases/2013/07/130 717134921.htmWe estimate that the amount of gold produced and ejected during the merger of the two neutron stars may be as large as 10 moon masses -- quite a lot of bling!\" says lead author Edo Berger o...

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