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Wednesday, October 27, 2010

Eldorado (NYSE:EGO), Agnico (NYSE:AEM), Kinross (NYSE:KGC) Plunge as Gold Prices Today Fall

Kinross Gold Corporation (NYSE:KGC), Eldorado Gold (NYSE:EGO) and Agnico-Eagle (NYSE:AEM) plunged along with the broader gold market, as mixed economic data and the strength of the U.S. dollar pushed gold prices today down.

Even though expectations the global and US economy is slowing down and a new round of quantitative easing is just around the corner, that didn't keep the dollar down today or the price of gold up, as gold continues to temporarily correct. It should be considered a buying opportunity at this time.

For Kinross, Agnico and Eldorado, they're among the largest gold miner losers today, with their share prices falling more than most.

Agnico is the strongest of these three gold miners mentioned, dropping to $69.85, losing $1.82 or 2.54 percent as of 12:59 PM EDT.

Eldorado has fallen to $16.46 a share, losing $0.71, or 4.14 percent.

Kinross was at $17.02, falling $0.63, or 3.57 percent as of 1:01 PM EDT.

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