Home » gold » Newmont Mining Predict Gold Prices Reach $1400 – $1500 in 2011

Friday, February 11, 2011

Newmont Mining Predict Gold Prices Reach $1400 – $1500 in 2011

Newmont Mining Predict Gold Prices Reach $1400 – $1500 in 2011 : Newmont Mining expects the global gold trade developments continue to improve. The world’s largest gold producer predicts gold prices will reach $ 1,400 to $ 1,500 per ounce in 2011, the future price of gold is expected to reach $ 2,000.

Newmont Mining reported in January, increased gold production and operating margins for the precious metal also increased. Newmont Mining has several areas of gold mining operations in North and South America, Australia, Indonesia and Africa.

Newmont Mining traded in a range yesterday that spanned from a low of $54.30 to a high of $56.29. Yesterday, the shares fell 0.72%, which took the trading range below the 3-day low of $54.88 on volume of 10.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Shares of Newmont Mining are currently trading below their 50-day moving average (MA) of $59.23 and below their 200-day MA of $58.79. Look for the MA to provide resistance for a short-term rebound in the shares.

SmarTrend currently has shares of Newmont Mining in an Downtrend and issued the Downtrend alert on December 17, 2010 at $59.55. The stock has fallen 7% since the Downtrend alert was issued.

SmarTrend expects the share price to rebound toward the $54.97 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Gold industry. For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)