Friday, May 27, 2011

Barrick (ABX) (GFI) (GG) (NEM) Close Up Even as Gold Settles Slightly Down

Shares of Barrick Gold (NYSE:ABX), Gold Fields (NYSE:GFI), Goldcorp (NYSE:GG) and Newmont Mining all closed up on Thursday, even as gold prices traded slightly down.

Gold for June delivery declined $3.90, or 0.3 percent, to $1,522.80 an ounce.

Gold for August delivery was down $4.10, or 0.3 percent, to $1,523.70 an ounce in the Comex division of the New York Mercantile Exchange.

July silver fell 31 cents to settle at $37.33 an ounce, lower by 0.8 percent.

Trading was light as we approach Memorial Day weekend in the United States.

The U.S. dollar was weaker, as was economic data, but it wasn't enough to push up the price of gold, while other metals traded mixed.

First-time jobless claims were up again last week, jumping 10,000 remain above the 400,000 mark.

Barrick Gold closed at $47.12, rising $0.31 or 0.7 percent. Gold Fields ended at $16.10, up $0.27 or 1.7 percent, to . Goldcorp closed at $49.76, gaining $0.22 or 0.4 percent. Newmont Mining ended the session at $55.61, jumping $0.40 or 0.7 percent.

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