Novagold Resources (AMEX:NG) Ends Week Up

Novagold Resources (AMEX:NG) (TSE:NG) ended the week with a nice gain, as it partook of the brutal week for gold prices and gold mining stocks, which got hammered after a strong run-up, which set record gold prices levels.

This wasn't unexpected, as speculators took profits after the extraordinary increase in gold prices.

Novagold ended Friday up by $0.12, or 1.82 percent in New York, finishing at $6.72 a share. They did lose some of that in after hours trading. They almost mirrored that in Toronto with gains of $0.11, or 1.55 percent.

Volume in New York was well above the 3-month average of 2,974,610, rising to 4,595,657.