Tuesday, July 6, 2010

Randgold Resources (Nasdaq:GOLD) Up on Bad Gold Day

Randgold Resources Ltd. (Nasdaq:GOLD) is going against the grain of gold price movement today, as it up at a time most gold miners are down, and as gold prices plummet with investors looking to get into equities in what they hope is a market rebound after last week.

What's a little surprising about Randgold is about $1.74 million was taken out of the company on Monday, giving the impression investors may have been viewing the stock bearishly.

So it's somewhat of a surprise the share price of Randgold is up today in light of what appeared to be a negative move yesterday, and the plunge in gold prices today.

The share price as of 1:34 PM EDT was $94.08, a gain of $0.95, or 1.02 percent.

Gold was at $1,194.20 an ounce, or down $14.70 at that time.

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