For gold-mining stocks, April was the cruelest month. But May is suddenly looking less awful. This week, you could even call things rosy.
The price of gold is at a two-week high Thursday and the Market Vectors Gold Miners (GDX) is ahead by more than 8% on the week, including a 4.4% rise Thursday. Market Vectors Gold Miners (GDXJ) is also enjoying a respite — it’s ahead by 6% as SPDR Gold Trust (GLD) advanced 1.5%.
Reuters
Why? One theory: It’s the end of the month, a good time for short sellers to cash in on recent success. Another: Gold’s price seemed to gain some momentum Wednesday from a cheery World Gold Council report Wednesday
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