Gold Stocks Slide on Light Volume

Gold stocks traded lower Monday on abbreviated volume, bogged down by Goldcorp(GG), Newmont Mining(NEM), and Barrick Gold(ABX). Newmont Mining saw the largest drop in AM trading, losing $1.21 or 2.5% from its open of $48.22. Despite rebounding from its December 22 low of $105.31, the SPDR Gold Trust(GLD) also traded lower, reaching an intraday low of $107.91. Gold has pulled back slightly from its December 3 record high of $1227.50 an ounce as some investors have sought to take profits on their gains of 2009.