Gold Rush Leads To Gain In Agnico-Eagle Mines (AEM)

Agnico-Eagle Mines AEM, a leading gold mining company, has soared close 5.3% by mid-day trading on Tuesday, as the gold futures for June soared to a fresh four and a half month high of $1220. Agnico-Eagle Mines (AEM), which had initially confirmed first signs of bullish trend on charts only a week back when its daily chart breached its 20 day MA, now faces its immediate resistance around $70, from where it started showing weakness in last December. Agnico-Eagle Mines (AEM) may continue to show buying interest from traders, as long as the gold continues to be a safe haven. Gold as well as gold mining stocks like Agnico-Eagle Mines (AEM) are likely to evince higher buying interest, rather than paper currencies, amidst doubts on the success of the Eastern European bailout package.