The Strongest Big Gold Stocks (GLD, GDX, GG, NEM, AUY, RGLD)
Newmont Mining Corp. (NYSE: NEM) is a $31 billion Colorado-based producer with operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand, and Mexico. The stock closed up 4.8% at $54.14 against a 52-week trading range of $50.05 to $65.50. That is right at 4% under a 52-week high and this one was helped by a Citigroup upgrade this morning.
Yamana Gold, Inc. (NYSE: AUY) is a $12 billion Toronto, Canada-based producer and explorer throughout many properties in Central and South America. The stock closed up 3.7% at $16.09, and the stock hit a new 52-week high of $16.18 today. Yamana’s all-time high was close to $20.00 back in early 2008.
Royal Gold, Inc. (NASDAQ: RGLD) is a $4 billion Colorado-based acquirer of gold mining and production royalties and shares hit a new 52-week high of $73.78 today. The close was up about 4% at $73.00 for the day after hitting a 52-week high of $73.78. That was also an all-time high.
The SPDR Gold Shares (NYSE: GLD) hit a new high, as did gold of course, today at $184.82. At last look, gold was trading up $45.30 in New York at $1,897.50 per ounce.
The run higher in gold each day is beginning to feel more and more like the crude oil rally from 2007 into 2008. That is a market where the base just keeps rising and rising for virtually the same news each day. The difference here is that gold does not run economies in the same manner as oil. At least it does not as long as the gold-barter system doesn’t return.
JON C. OGG