Not Glamorous, But Glittering
While it certainly is not the sexiest
industry group, it has been where the action is recently and is glittering in
trading today. The gold and silver index
(
XAU |
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PowerRating) broke out of the handle of a
cup and handle pattern that has been forming since Christmas and is the leading
sector on the session, +4.43%.
Components, most of which are under $20 stocks, are also
handing in decent gains, stretching up to as much as 7.5% gains on the session.
Among the notable stocks in this group that are displaying sound patterns
similar to the gold index are Newmont Mining
(
NEW |
Quote |
Chart |
News |
PowerRating) and Barrick Gold
(
ABX |
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News |
PowerRating).
April gold
(
GCJ1 |
Quote |
Chart |
News |
PowerRating) is also rallying, up 3.1 at 266.1, despite heavy auctions
of bullion expected from the United Kingdom.
