This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gold Finds Groove on Weak Durable Goods (Update 1)

"We could very easily see a month or two of volatility as nerves calm and the market consolidates from the slump that we saw in the last couple of weeks, but I think with that under our belt and as soon as we get some more positive news coming through we could see a lift," Neil Meader, head of precious metals research and forecasts at Thomson Reuters GFMS, said during a phone interview from London.

Gold mining stocks closed mostly higher on Wednesday. Shares of Gold Fields (GFI - Get Report) soared 9.8%, and shares of Randgold Resources (GOLD) popped 8.1%.

Among volume leaders, Barrick Gold (ABX - Get Report) climbed 7.5%. The company reported Wednesday that its first-quarter profit dropped 18% to $847 million, or 85 cents a share on revenue of $3.44 billion.

Gold ETF SPDR Gold Trust (GLD) closed up 1.1% to $138.37 a share, while iShares Gold Trust (IAU) increased 1.1% to $13.91 a share.

-- Written by Joe Deaux in New York.

>Contact by Email.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
GLD $108.70 0.90%
IAU $10.96 0.97%
SLV $13.92 0.87%
ABX $7.14 4.40%
GFI $3.24 5.00%

Markets

Chart of I:DJI
DOW 16,569.72 -85.05 -0.51%
S&P 500 1,982.63 -5.03 -0.25%
NASDAQ 4,814.8350 +2.1270 0.04%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs