This Day On The Street
Continue to site
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 Pops as Equities Slide (Update 1)

"You can't really have both: it's either the Chinese investors are buying gold and the economy is good, but right now the economy doesn't look that good in China," Jacobs said in an interview. "The question is, are there going to be Chinese buyers of gold?"

A major shift in gold prices could next occur in mid-June when the Fed releases it's next policy-making statement. That statement will emerged June 19, when the central bank will also issue its U.S. economic projections and when Chairman Bernanke will hold his next press conference.

"Gold's going to stay in a technical trading zone right now," said Jonathan Rose, chief executive of Capital Gold Group. "The volumes of gold being traded is definitely down."

Gold mining stocks were mostly higher on Thursday. Shares of Kinross Gold (KGC - Get Report) rose 3%, while shares of Yamana Gold (AUY - Get Report) increased 1%.

Among volume leaders, Market Vectors Gold Miners ETF (GDX) lifted 0.72%.

Gold ETF SPDR Gold Trust (GLD) added 2% to $134.63 a share, while iShares Gold Trust (IAU) tacked on 2% to $13.53 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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AUY $3.83 0.00%
GDX $19.36 0.00%
GLD $113.05 0.00%
IAU $11.40 0.00%
KGC $2.30 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs