The metal miner Yamana Gold is the latest trading opportunity available on the STOCK.com MT4 platform.
Image: courtesy of Yamana Gold
[YamanaGold] - Seen as a short term sell by many analysts at present, Yamana Gold’s direction is determined principally by the price of gold [XAUUSD]. And though the precious metal felt a rally on Thursday away from the rapid downward curve it has taken since mid-January, companies working in this industry will see few immediate overall benefits, even though stocks tend to swing in time with the hard commodity.
Yamana Gold shares over the last 3 days have seen the same volatility as gold and silver. On Wednesday Yamana Gold saw over 4% made in intraday trading, closing at $3.53. However after hours trading pushed the stock up further to a $3.67 Thursday opening price, only for it only to drop to $3.52 and lose the positive gains.
In parallel, on Wednesday gold fell to 1147.38, the lowest since November 2014. Silver likewise dropped to 15.259, a price last seen at the start of December 2014. Then early Thursday morning Asian trading, gold and silver took an upturn as commodities reached major market support levels then reversed. Similar to Yamana Gold, the commodity metal also lost its gains by close of Thursday. Gold currently stands at 1159.03, Friday morning GMT.
The latest news for Yamana Gold is the plan to build a new gold and silver mine in Argentina to add to its portfolio of gold, silver and copper mines across North and South America.
The Toronto-based company provides sustainable gold production supported by a large mineral reserve and mineral resource base. In 2014 production was 1.4 million GEO and for 2015 the firm expects production of approximately 1.3 million ounces of gold and 9.6 million ounces of silver.
Yamana is listed on the Toronto Stock Exchange and the NewYork Stock Exchange.
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