Gold Miners Strike Early
This morning the major gold mining stocks are holding up very well. Gold and silver are both catching bids higher today. The Market Vectors Gold Miners ETF(NYSE:GDX) is trading higher by 0.61 cents to $60.39 a share. The GDX will have intra-day resistance around the $60.65 area. This could be a small pullback area for the GDX.
Newmont Mining Corp.(NYSE:NEM) is trading higher this morning by 0.91 cents to $55.35 a share. There looks to be some minor intra-day resistance for Newmont stock around the $55.40 area and more resistance around the $56.00 level. Traders can watch for small pullbacks off of both levels.
Randgold Resources Ltd.(NASDAQ:GOLD) is another leading gold mining stock. This stock rallied sharply higher last week and looks to be pulling back today after last week's surge. Randgold stock is trading lower this morning by $1.38 to $82.23 a share. The stock will have minor intra-day support around the $82.00 area. Should the stock decline further intra-day traders should watch for support around the $81.00 area.