Wednesday, May 18, 2011

Miners (KGC) (AU) (EGO) (GFI) (AUY) All Close Up Tuesday

Shares of Kinross Gold Corp (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Eldorado Gold Corporation (NYSE:EGO), Gold Fields (NYSE:GFI) and Yamana Gold (NYSE:AUY) went against the grain of gold prices, all closing up on Tuesday, even though gold prices dropped again.

Gold futures for June delivery closed down $10.60, or 0.7 percent, at $1,480.00 per ounce in New York. Trade ranged from a low $1,471.10 to a high of $1,497.50.

The yellow metal has dropped $100 or 6 percent from its record highs of over $1,575 an ounce set earlier in May.

Silver gained 0.7 percent to settle at $33.80 an ounce. Since the latter part of April it has fallen almost 33 percent from a record high of $49.51.

Eldorado Gold Corporation (EGO) closed Tuesday at $15.45, gaining $0.40, or 2.66 percent.

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