The Best Stocks With Dividend Growth From Last Week
This morning, the leading gold miners are trading higher to start the day. The popular and highly followed Market Vectors Gold Miners ETF (NYSE:GDX) is trading higher by 0.35 cents to $42.63 a share. Short term traders should watch for intra-day resistance around the $42.90, and $43.26 levels. The daily chart of the GDX will have very good support around the $39.50 area should the leading ETF decline from current levels. ...
GDX: Short term traders should watch for intra-day resistance around the $43.00, and $43.50 levels. Take note, the GDX is still trading below the important daily chart 50, and 200 moving averages, this technical position puts the important ETF in a weak technical position. All of the leading gold mining stocks are holding up very well on an intra-day basis. Most of the daily charts of the gold mining stocks are still very vulnerable to declines after this short term bounce concludes.
This afternoon, all of the leading gold mining stocks are coming under selling pressure. The popular Market Vectors Gold Miners ETF Trust (NYSEARCA:GDX) is trading lower by 0.65 cents to $46.48 a share. The trend on this leading ETF remains down as the GDX price is trading below the daily chart 50, and 200 moving averages.
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This morning, the leading gold mining stocks are declining lower. It seems that gold and the leading gold mining stocks have begun to trade right along with the major stock market indexes once again. If you look at the popular Market Vectors Gold Miners ETF (NYSE:GDX) you will see that the GDX made a low on October 4, 2011 at $50.42 a share.
This morning, the precious metals are all trading sharply higher. The catalyst for the rally in gold and silver is the European Union bailout plan. Traders should be aware that if this European Union bailout plan turns out to be a hoax the major stock indexes and the precious metals could decline again.
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Gold Dips, However, It Is Still The Golden Investment
This morning, spot gold is declining lower by $21.00 to $1838 per ounce. Gold has been extremely volatile over the past month. Many traders and investors have been fleeing the precious metal due to rumors of another margin hike by the CME Group. So far, the CME Group has increased margins for gold on two separate occasions since August 10, 2011.
This morning, the popular and highly followed SPDR Gold Shares(NYSE:GLD) are trading lower by $6.50 to $176.34 a share. Spot gold is declining lower by nearly $50.00 to $1823.00 an ounce. The last time gold sold off so sharply the CME Group increased margin requirements for the precious metal.