Gold futures slid to a 2 week low Tuesday on speculation that central banks may begin curbing stimulus measures. On Tuesday, the Bank of Japan left their asset-buying and other policy elements unchanged, signaling an improving economy. On Monday, the Standard & Poor's upgraded its outlook on the U.S.’s AA+ credit rating to “stable” from “negative”, tarnishing gold’s appeal as a safe haven. Data from Bloomberg showed that Gold’s 60-day historical volatility was at 28.8 percent Monday, the highest level seen since December 2011. Here is how some gold stocks reacted Tuesday:
Yamana Gold Inc. (NYSE:AUY - News)(TSX:YRI.TO - News) shares traded in the range of $10.88 to $11.25 Tuesday before settling to close at $10.89, a decrease of 5.30 percent. The stock appears to be facing stiff resistance at $11.38. The company reported production of 291,312 gold equivalent ounces for the first quarter of 2013, an increase of 4 percent when compared to the year ago quarter. Shares of Yamana Gold have fallen approximately 36.7 percent in 2013.
More information on Yamana Gold and access to the free equity report can be found at:
Harmony Gold Mining Co. (NYSE:HMY - News) shares traded in the range of $3.90 to $4.01 before settling to close at $3.92, a decrease of 2.73 percent. The stock appears to be facing stiff resistance at $4.41 with some support at $3.69. The company reported an operating profit of R821 million (US$92 million) for the March 2013 quarter. Shares of Harmony Gold Mining have fallen approximately 56.25 percent in 2013.
More information on Harmony Gold Mining and access to the free equity report can be found at:
Rubicon Minerals Corp. (NYSEMKT:RBY - News)(TSX:RMX.TO - News) shares traded in the range of $1.71 to $1.82 Tuesday before settling to close at $1.76, a decrease of 3.83 percent. The stock appears to be facing resistance at the $1.76 and $1.91 levels. The company will hold its Annual General Meeting of Shareholders on Wednesday, June 26, 2013 at 4:30 pm Eastern Time. Shares of Rubicon Minerals have fallen approximately 31 percent in 2013.
More information on Rubicon Minerals and access to the free equity report can be found at:
New Gold Inc. (NYSEMKT:NGD - News)(TSX:NGD.TO - News) shares traded in the range of $6.62 to $6.84 Tuesday before settling to close at $6.65, a decrease of 3.06 percent. The stock appears to be facing resistance at $7.17 with some support at $6.33. The company announced it has agreed to acquire Rainy River Resources for a premium of 42% per share to the closing price on May 30, 2013. Shares of New Gold have fallen approximately 39.7 percent in 2013.
More information on New Gold and access to the free equity report can be found at:
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