Gold Mining Stocks Must Be Traded

Zacks highlights commentary from People and Picks Member «inthemoneystocks».

For more Voice of the People, visit http://at.zacks.com/?id=7872

Featured Post

Gold Mining Stocks Must Be Traded

There are so many traders and investors that believe that the gold mining stocks will automatically trade along with gold, the precious metal; this is not always the case. Every stock has its own set of issues that it will face. Very often the price of gold and the gold mining stocks will trade in tandem with each other, however, there will be times when the mining stocks will lag and other times when they will lead the price of gold. Each different gold mining stock must be followed and watched closely on an individual basis.

These days the Market Vectors Gold Miners ETF (GDX) is beginning to form a sideways bullish base on the daily chart. This type of pattern could setup for another leg higher. The problem with the GDX is that it is still trading below the daily chart 50, and 200 moving averages. These important moving averages will be the next important daily chart resistance levels for the GDX. Short term traders can watch for intra-day resistance around the $54.25, and $54.65 levels.

Some leading gold mining stocks that are trading slightly higher this morning include Yamana Gold Inc (AUY - Snapshot Report), Goldcorp Inc (GG - Analyst Report) and Royal Gold Inc (RGLD - Snapshot Report). Traders must remember that these stocks will not always follow the price of gold and will trade according to their own cycle.

Nicholas Santiago

InTheMoneyStocks.com

About the Zacks Community

In 2008, Zacks Investment Research launched PeopleAndPicks.com, a stock-picking website where members of the Zacks community can test their strategies and share ideas with other members. Each user is scored on the accuracy of his or her picks, and top users are rewarded with free products from Zacks. Registration is free. To learn more about People And Picks, visit http://at.zacks.com/?id=7870

Follow us on Twitter: http://www.twitter.com/PeopleAndPicks

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3:1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit From the Pros by going to http://at.zacks.com/?id=7867.

Read the full analyst report on GDX

Read the full analyst report on AUY

Read the full analyst report on GG

Read the full analyst report on RGLD