Gold has just skyrocketed higher from the start of the trading day. When gold rallies it is signaling that inflation is coming into the market place. Traders can easily see the bounce in all of the major stock indexes since the opening bell as gold lead the move higher. The SPDR Gold Shares (AMEX:GLD) are still trading lower by $1.07 to $166.30 a share. The GLD will have intra-day resistance around the $167.00, and $168.00 levels.
Gold mining stocks have also surge off the morning lows. The popular Market Vectors Gold Miners ETF (AMEX:GDX) is trading lower by $1.28 to $57.55 share. The GDX will have intra-day resistance around the $58.00, and $59.00 levels. Other leading gold mining stocks that have rallied off the morning lows include Newmont Mining Corp (NYSE:NEM), Yamana Gold Inc (NYSE:AUY), and Randgold Resources Ltd (NASDAQ:GOLD).
Nicholas Santiago
InTheMoneyStocks.com
