Tuesday, May 10, 2011

Miners (ABX) (RGLD) (JAG) (RIC) (AU) Trade Mixed as Gold, Silver Rebound

Gold miners Barrick Gold (NYSE:ABX), Royal Gold (Nasdaq:RGLD), Jaguar Mining (NYSE:JAG), Richmont Mines, Inc. (AMEX:RIC) and AngloGold Ashanti (NYSE:AU) closed mixed Monday as gold prices turned around on Monday.

All the miners listed above closed up with the exception of Jaguar Mining.

Gold for June delivery increased $11.86 to settle at $1,503.20 at the Comex division of the New York Mercantile Exchange after dropping 4.8 percent in a week. The gold price Monday traded in a range as high as $1,512 and as low as $1,489.

Silver prices jumped $1.82 to close at $37.11 an ounce after plunging 27 percent last week.

According to research firm Lipper, last week almost $1 billion flowed out of silver exchange traded funds (ETFs).

The U.S. dollar fell to $1.434 against the euro and dropped against the Japanese yen to 80.24 yen.

Richmont Mines, Inc. (AMEX:RIC) closed Monday at $8.12, gaining $0.40, or 5.18 percent.

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