Philex Mining Corporation (PX) Digs Up Some Gains!
Despite the 0.56% and 1.14% drop of the PSEi today and the Dow Jones Industrial Average (DJI) yesterday respectively, gold mining companies listed in the Philippine Stock Exchange like Philex Mining Corporation, Manila Mining Corporation and Lepanto Consolidated Mining Company still made it to the top gainers list today.
Who says silver is cheap?! Silver or XAGUSD in the trading arena is in fact trading at its all-time high along the much coveted gold or XAUUSD. So don’t get left behind… catch the silver express when it takes a halt!
The price of gold of XAU/USD in the commodities market could be due for a correction in the near term. As you can see from its 4-hour chart above, gold has rallied nicely after hitting a low of $1,308.200 per ounce on January 28, 2011 after reaching a high of $1,423.69 on the first trading day of the new year. Gold was able to rebound from the said low and is now trading at $1,356.11.