Gold Miners Still Lag the Metal

This morning, the gold mining stocks are trading slightly higher on the trading session. The popular Market Vectors Gold Miners ETF GDX is trading higher by 0.56 cents to $57.90 a share. Recently, the GDX rolled over on the daily chart after trading as high as $61.71 a share on July 25, 2011. Meanwhile the SPDR Gold Shares GLD are trading higher by $1.33 to 159.05 a share. This tells us that the gold mining stocks are obviously lagging the precious metal. Traders can watch for intra-day resistance on the GLD around the $58.25 area. Other leading gold mining stocks that are trading higher this morning include Newmont Mining Corp. NEM, Yamana Gold Corp. AUY, and Agnico Eagle Mines LTD AEM. All of these stocks look to have limited upside on an intra-day basis. Nicholas Santiago InTheMoneyStocks.com