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Saturday, June 26, 2010

Barrick Gold (NYSE:ABX) Finishes Week Strong

After investors took profits on Monday, the rest of the week was poor for gold in general, but all the action was saved for Friday, and gold prices rebounded nicely, and Barrick Gold (NYSE:ABX) ended the week positive, after a lackluster performance over the last four days before that.

Gold prices finished at $1,255.80 on Friday, reaching as high as $1,258 and ounce.

Barrick ended the week at $46.33, gaining $1.74 on the day, a 3.90 percent rise in share price.

The stock is still close to its 52-week high of $48.02, and could be poised to pass it after the uneventful week.

Also the economic news that the GDP of the U.S. had to be downwardly revised again could be a strong catalyst for a good start on Monday.

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