Gold futures closed below $1,300 for the first time in six weeks Thursday as a batch of better-than-expected economic data pushed the dollar higher. Gold for April delivery declined $8.70 to settle at $1,294.70 an ounce on the Comex division of the New York Mercantile Exchange, while Silver for May delivery fell $0.07 to close at $19.71 an ounce. "We continue to believe that the metal will struggle in the face of weak demand and forecasted rising real interest rates in the U.S.," said Standard Bank analyst Walter de Wet. "We expect more downside in gold."
Allied Nevada Gold Corp. (NYSEMKT: ANV)(TSX: ANV) shares traded in the range of $4.43 to $4.71 Thursday before settling to close at $4.64, an increase of 2.20 percent. The stock appears to be facing some resistance at the $4.95 and $5.20 levels with some support at $4.54 and $4.37. Shares of Allied Nevada Gold are up approximately 30.0 percent year-to-date.
More information on Allied Nevada Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ANV
Harmony Gold Mining Co. (NYSE: HMY) shares traded in the range of $3.06 to $3.18 Thursday before settling to close at $3.14, an increase of 1.62 percent. The stock appears to be facing some resistance at the $3.17 and $3.23 levels with some support at $3.06 and $2.99. Shares of Harmony Gold Mining are up approximately 24.0 percent year-to-date.
More information on Harmony Gold Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HMY
NovaGold Resources Inc. (NYSEMKT: NG)(TSX: NG) shares traded in the range of $3.41 to $3.66 Thursday before settling to close at $3.63, an increase of 1.97 percent. The stock appears to be facing some resistance at the $3.89 and $4.25 levels with some support at $3.59 and $3.34. Shares of NovaGold Resources are up approximately 42.0 percent year-to-date.
More information on NovaGold Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NG
Royal Gold, Inc. (NASDAQ: RGLD)(TSX: RGL) shares traded in the range of $62.02 to $63.03 Thursday before settling to close at $63.22, an increase of 1.14 percent. The stock appears to be facing some resistance at the $65.15 and $68.12 levels with some support at $63.19 and $61.36. Shares of Royal Gold are up approximately 37.0 percent year-to-date.
More information on Royal Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RGLD
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact:
Wall Street Fundamentals
Website: www.WallStreetFundamentals.com
Email: [email protected]