Zacks' Voice of the People highlights opportunities with Market Vectors Gold Miners ETF, Randgold Resources, Royal Gold, Yamana Gold and Newmont Mining - Press Releases

By Zacks Equity Research,

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For Immediate Release

Chicago, IL - 03/02/2012 - Zacks highlights commentary from People and Picks Trader " inthemoneystocks " .

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Gold Miners Try to Dig Out of Yesterday's Hole

This morning, all of the leading gold mining stocks are ticking higher. Yesterday, gold, silver, and leading mining stocks were slammed sharply lower as the U.S. Dollar Index rallied. Traders should realize that when markets stage an outside day on heavy volume it is usually an indication of lower prices to come.

The popular and highly traded  Market Vectors Gold Miners ETF  (NYSEARCA: GDX ) is trading higher by 0.12 cents to $55.52 a share. The daily chart is signaling that the GDX will sell down to the $52.00 area before reaching some near term support. Short-term traders can watch for intra-day support around the $54.67 and $54.00 levels.

Some leading gold mining stocks that will be volatile over the next week will be  Randgold Resources Ltd  ( GOLD ),  Royal Gold, Inc  ( RGLD ),  Yamana Gold Inc  ( AUY ) and  Newmont Mining Corp  ( NEM ). All of these stocks could be vulnerable to further declines in the near term. Please understand that gold and most gold mining stocks will trade inverse to the U.S. Dollar index.

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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact: Brent Billock
People & Picks Manager

Phone: 312-265-9307

YAMANA GOLD INC ( AUY ): Free Stock Analysis Report
RANDGOLD RSRCS ( GOLD ): Free Stock Analysis Report
NEWMONT MINING ( NEM ): Free Stock Analysis Report
ROYAL GOLD INC ( RGLD ): Free Stock Analysis Report
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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Stocks
Referenced Stocks: AUY , GOLD , NEM , RGLD

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