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Wednesday, March 2, 2011

Gold Rush! EGO, AEM, NG, GG, ABX, ELD

Gold stocks acted well today as gold broke the 1435 dollar per ounce level and currently resides around the 1429 level. Eldorado Gold (NYSE: EGO) (TSE: ELD), the priciest of the bunch in terms of PE, was up 1%. Agnico-Eagle Mines (NYSE: AEM) rose 2.46%, but still resides around the $72 level as the company disappointed investors in its previous quarter. NovaGold (AMEX: NG) topped the charts jumping 4.8% on extremely high relative volume. The firm is known to possibly have one of the largest gold resources in North America. Goldcorp Inc (NYSE: GG) followed, rising 3.2% on the higher gold prices, hitting a 52-week high. The company is also a large producer of silver resources. And Barrick Gold 9NYSE: ABX) was up 1.8%, continuing its upward trajectory.

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