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Saturday, June 5, 2010

Novagold (AMEX:NG), Eldorado NYSE:EGO), Yamana (NYSE:AUY) Finish Friday Down

Most of the large gold miners weren't able to rebound fast at the end of the day, as Novagold (AMEX:NG), Eldorado Gold (NYSE:EGO) and Yamana (NYSE:AUY), along with the giant gold miners were down on Friday, even as poor economic news on new job creation hit the news wires.

Gold prices were able to move up quickly on the news, but it seems the gold miners weren't, although a number of them were positive in electronic trading.

Gold finished the week at $1,220 an ounce, moving up $12.20 on Friday.

NovaGold ended Friday's session at $6.76 a share, down $0.25 or 3.57 percent.

Yamana dropped to $10.50 a share, falling $0.32, or 2.96 percent.

Eldorado Gold was down to $16.84 a share, falling $0.32, or 1.86 percent.

It's possible they could start off nicely on Monday as investors and traders digest the news and realize the recession, if it's really ever left, could return very quickly, as it seems to be.

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