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

Sector Snap: Gold

NEW YORK (AP) â¿¿ Shares of gold miners fell Wednesday, as the price of the precious metal dropped to its lowest point in three years.

The tumble came amid a rise in stock markets, boosted by increased investor optimism. Investors tend to buy gold when they're nervous about returns in other investments.

In afternoon trading the price of gold fell $45.80, or 3.6 percent, to $1,229.30 an ounce.

In a note to investors Tuesday, Credit Suisse analyst Anita Soni said the future of gold prices remains uncertain. Because of that and other factors, she cut her rating on Barrick Gold Corp. to "Neutral" from "Outperform" and reduced her price target by $16 to $20.

Meanwhile, the investment bank's Canadian arm cut its gold price predictions for the next three years.

Here's how shares of some gold miners traded Wednesday:

â¿¿ Barrick, down $1.16, or 7.2 percent, to $14.95.

â¿¿ Seabridge Gold Inc., down 91 cents, or 9.7 percent, to $8.45.

â¿¿ Goldcorp Inc., down 88 cents, or 3.8 percent, to $22.56.

â¿¿ Kinross Gold Corp., down 19 cents, or 3.9 percent, to $4.63.

â¿¿ Newmont Mining Corp., down $1.62, or 5.6 percent, to $27.31.

â¿¿ NovaGold Resources Inc., down 10 cents, or 4.9 percent, to $1.94.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%
YHOO $36.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs