Teck Resources (NYSE: TCK), Barrick Gold (NYSE: ABX), Lundin Mining (TSE:LUN) Down as Gold Falls in Price

Teck Resources (NYSE: TCK) (TSE:TCK-B), Barrick Gold (NYSE:ABX) (TSE:ABX) and Lundin Mining (TSE:LUN) are all down today as gold prices drop.

Even when gold prices were up earlier in the session, these gold miners struggled, seeming to point to traders taking profits after a nice run last week.

As of 12:50 P.M. EST, gold prices were at $1,225.10, a decline of $6.30 an ounce.

This isn't a surprise to see the profit-taking, and traders are also looking to see if there is going to be a correction in order to catch gold on its temporary way down, if that's the direction it goes.

Gold does have good support either way, and no matter what happens in the short term, it's going to continue its upward climb.

The major question is who is investing at this time, and if it's extended to the regular, small investor. When it does, that's when legitimate concerns over a gold bubble will apply.

Most investors have been institutional investors, and while that continues to be the case, we're not in danger of a gold bubble occuring.

Teck Resources (TSE:TCK-B) was down a little over 9 percent in New York, while Barrick Gold was down in New York by a little over 3 percent. Lundin Mining was off by just under 7 percent in Toronto, all at 1:00 P.M. EST.