Wednesday, June 16, 2010

Goldcorp (NYSE:GG), Newmont (NYSE:NEM), Barrick (NYSE:ABX) Open Strong

Goldcorp (NYSE:GG) (TSE:G), Newmont Mining (NYSE:NEM) and Barrick Gold (NYSE:ABX) (TSE:ABX) continued on from yesterday's good performance, all up a little before 11:30 AM EDT, even though gold prices were down slightly, standing at $1,232.90 an ounce, down $1.50 at 11:18 AM EDT.

All three performed strongly yesterday, and investors aren't convinced the crisis in Europe is resolved or that China won't strongly influence demand for raw materials and other products through their fight against property inflation.

The euro was weak overnight, also prompting gold miners to have investors gravitate toward them, even though, as mentioned, gold prices are still down and haven't caught up with the sentiment.

Normally it is the opposite with gold prices rising and gold miners following, but today it's the opposite, at least for now.

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