Gold for December delivery rose by 2.4%, or $27.20, to reach $1,169.80 per troy ounce on Friday, the Wall Street Journal reported.
The rally in the gold company's shares on Friday stemmed from data that showed jobs growth in October was weaker than expected, along with gold having its largest one-day percentage gain since June 19.
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But gold prices once again declined on Monday to $1,165.70, which sent the gold stocks lower.
Separately, TheStreet Ratings team rates ELDORADO GOLD CORP as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."