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Gold Edges Higher, Miners Head Lower

By Market News Video Staff, Monday, August 30, 3:25 PM ET

In afternoon trading today, spot gold prices edged higher as the US markets struggled to build on Friday's gains. Gold is trading at $1,238.50/oz currently and the SPDR Gold Trust (AMEX:GLD) is trading just north of $121 per share. Trading in the opposite direction today, however, is the Market Vectors Gold Miners ETF (AMEX:GDX). This ETF is faring better than the general markets, but is off about 0.1% right now. Of the components making headlines today, Kinross Gold (NYSE:KGC) saw its price target lowered by Bank of America this morning to $24 per share, though the firm remains bullish on the company post-merger. On the news, KGC is lower by almost 0.8%, outpacing the rest of the components on Monday.

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This Article's Word Cloud:   AMEX   America   Bank   Friday   Gold   Kinross   Market   Miners   Monday   SPDR   Trading   Vectors   about   afternoon   almost   better   build   company   components   currently   direction   faring   firm   general   gold   headlines   higher   however   just   lower   lowered   making   markets   merger   news   north   opposite   outpacing   post   price   remains   rest   right   share   spot   target   than   though   today   trading
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