As Michael Fowlkes discussed yesterday, gold prices have been rising strongly over the past few days as fears about a possible recession increased and the U.S. dollar continues to weaken. Gold for February delivery rose in the previous session $9.10 to end at $869.10 an ounce on the New York Mercantile Exchange. There have been a handful of notable names that have benefited from these news to trade up to new highs.
As gold moves higher, so have gold stocks, with some big names trading up to set new 52-week highs yesterday evening. Here are a couple names of interest making strong moves yesterday:
- Streettrack Gold Trust (NYSE: GLD) – set a new 52-week high yesterday of $85.94;
- Barrick Gold Corp. (NYSE: ABX) – traded up to new 52-week high yesterday of $49.33;
- Agnico Eagle Mines Ltd. (NYSE: AEM) – set a new 52-week high yesterday of $59.45;
- Goldcorp Inc. (NYSE: GG) – set a new 52-week high yesterday of $38.55.
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