On the Radar

The price of the gold continued its price move to the upside making higher highs and higher lows. The index has been on uptrend for 12 of the past 14 weeks as it continues to move higher. This week was the first time the index broke out into new high ground since November of 2009 after reaching a new high in the $1,226.40 area. The price of gold moved to a new high earlier in the week at $1,249.30 per ounce but ended the week trading slighltly lower to close at $1,232.60 per ounce. The Philadelphia Gold and Silver index as well as the AMEX Gold Bugs Index have all been moving higher to the upside in the past few weeks. The stocks on the radar this week are companies such as (ABX) Barrick Gold, (GRS) Gammon Gold, Inc., (PHYS) Sprott Physical Gold Trust, (PAAS) Pan American Silver Corp., (GOLD) Randgold Resources, Ltd., (KMKCF) Continental Minerals, (SLW) Silver Wheaton, (EGO) Eldorado Gold, (AUY) Yamamana Gold, and (LIHR) Lihir Gold Ltd. to name a few.