This morning the gold mining stocks are declining sharply lower. The popular Market Vectors Gold Miners ETF (NYSE:GDX) is declining lower by $1.27 to $59.52 a share. The $57.50 area will be minor intra-day support, however, the $59.00 area will be a much stronger intra-day support level and likely short term intra-day bounce level.
Yamana gold Inc. (NYSE:AUY) is another leading gold mining stock that is trading lower this morning by 0.18 cents to $12.75 a share. Yamana stock will have minor intra-day support around the $12.70 area. The stock will have a bit more short term intra-day support around the $12.50 level. Both areas are possible bounce levels.
Agnico-Eagle Mines Ltd. (NYSE:AEM) is declining sharply lower since the opening bell rang at the New York Stock Exchange. AEM stock will have some minor intra-day support around the $70.00 area. The next two important intra-day support levels where the stock may see some small bounces will be around $69.50 and $69.00 respectively.