StockCall Early Morning Insight into Barrick Gold, Kinross Gold, Goldcorp, Eldorado Gold, and AuRico Gold
LONDON, April 5, 2013 /PRNewswire/ --
Gold prices came under pressure in the first quarter as improving economic outlook in the U.S. raised prospects of an early end to Federal Reserve's bond buying program. However, the Bank of Japan (BOJ), on Thursday, took markets by storm after it announced aggressive monetary easing measures to fight deflation. The BOJ's aggressive measures have boosted gold's inflation-hedge appeal. The European Central Bank (ECB) has also hinted that it may cut interest rates at its next monetary policy meeting. Meanwhile, disappointing data from the labor market has ended speculation that the Fed will end its quantitative easing program sooner-than-expected. The macro environment is ideal for gold, with central banks across the developed world implementing aggressive monetary easing measures. This should also benefit gold mining companies such as Barrick Gold Corporation (NYSE: ABX), Kinross Gold Corporation (NYSE: KGC), Goldcorp Inc. (NYSE: GG), Eldorado Gold Corp. (NYSE: EGO), and AuRico Gold Inc. (NYSE: AUQ). Gold stocks ended mostly higher on Thursday, tracking gains in the broad market. StockCall has issued technical analysis and charting reports on ABX, KGC, GG, EGO, and AUQ. Download these free reports now at
http://www.stockcall.com/todaysopinions
Shares of Barrick Gold Corporation shares edged higher in trading on Thursday. The stock touched an intra-day high of $27.43 before paring some of the gains to finish the day 1.16% higher at $27.01 on above average volume of 15.83 million. Despite yesterday's gains, the stock is still down nearly 7% in the last three sessions. Year-to-date, Barrick Gold's shares have fallen more than 22%. The stock's MACD has just crossed below the signal line, which is a bearish signal. Download the free research on ABX today by registering at
http://www.StockCall.com/ABX040513.pdf
Shares of Kinross Gold Corporation also rose more than 1% on Thursday. The stock closed 1.42% higher at $7.15 on above average volume of 13.73 million. It touched an intra-day high of $7.27. The company's shares are still down more than 9% in the last three trading sessions. The stock rebounded yesterday after finding support at around $7. Kinross Gold are trading well below their 50-day and 200-day moving averages. Sign up and have access to our free report on KGC at
http://www.StockCall.com/KGC040513.pdf
Shares of Goldcorp Inc. rebounded sharply yesterday after touching a 52-week low of $30.62. The stock ended the day 1.12% higher at $31.57 on above average volume of 7.62 million. Goldcorp's shares have fallen nearly 5.60% in the last three trading sessions. The mining company's shares fell below $32 support level this week, which is a bearish signal. The stock's MACD has crossed below the signal line, which further confirms this bearish trend. Sign up and read the complimentary report on GG at
http://www.StockCall.com/GG040513.pdf
Another gold stock that rose sharply on Thursday was Eldorado Gold Corp. Shares of the gold mining company rose to an intra-day high of $8.30 before paring some of the gains to finish the day 1.48% higher at $8.21 on above average volume of 7.55 million. Eldorado Gold's shares have fallen nearly 36% so far in 2013. The stock recently fell below $9.50 support level, which is a bearish signal. The free report on EGO can be downloaded by signing up now at
http://www.StockCall.com/EGO040513.pdf
Shares of AuRico Gold Inc. rallied in trading on Thursday. The stock closed 5.83% higher at $6.17 on above average volume of 3.47 million. It touched an intra-day high of $6.21. AuRico Gold's shares wiped off all of their losses from the previous two trading sessions as a result of the rally yesterday. Year-to-date, however, the stock is still down more than 24%. Free report on AUQ can be accessed by registering at
http://www.StockCall.com/AUQ040513.pdf
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