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Posted : Jul 23, 2013

Why Miners & Uranium Stocks Are Hot?: Barrick Gold Corporation (USA) (NYSE:ABX), UEC, URRE, URZ, URG, Eldorado Gold Corp (USA) (NYSE:EGO)

Gold miners jumped after gold marked a one-month high on Monday on technical buying due to weakness in the U.S. dollar. Gold prices were supported by a weaker U.S. dollar index after data showing that U.S. existing home sales fell unexpectedly in June dampened expectations that the Federal Reserve will start scaling back its asset purchase program this year. Bullion has been moving higher after Federal Reserve Chairman Ben Bernanke said the U.S. central bank still predicted to start scaling back its stimulus later this year, but left open the option of changing that plan.

The yellow metal eased back below $1,330 an ounce on Tuesday as gains in the dollar prompted buyers to pause after the metal registered its biggest one-day gain in over a year.

Eldorado Gold Corp (USA) (NYSE:EGO) gained +9.54% to $7.81 and ranged between $7.39 and $7.97. The stock traded on volume of 8.23M shares versus average-daily volume of 5.20M shares. Its current year performance is now about -38.98%.

Barrick Gold Corporation (USA) (NYSE:ABX) surged +6.17% to $17.56 and ranged between $17.24 and $17.86. The stock traded on volume of 26.06M shares versus average-daily volume of 20.31M shares. Its current year performance is now about -48.98%.

Las Vegas Sands Corp. (NYSE:LVS) jumped +8.22% to $56.15 and ranged between $55.27 and $56.43. The stock traded on volume of 4.09M shares versus average-daily volume of 5.73M shares. Its current year performance is now about -45.34%.

NovaGold Resources Inc. (USA) (NYSEMKT:NG) surged +7.96% to $2.44 and ranged between $2.33 and $2.44. The stock traded on volume of 2.97M shares versus average-daily volume of 1.68M shares. Its current year performance is now about -45.90%.

Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) gain +7.35% to $0.510 and ranged between $0.49 and $0.53. The stock traded on volume of 2.94M shares versus average-daily volume of 3.71M shares. Its current year performance is now about -72.28%.

Nevsun Resources (USA) (NYSEMKT:NSU) jumped +5.23% to $3.42 and ranged between $3.33 and $3.42. The stock traded on volume of 1.41M shares versus average-daily volume of 1.78M shares. Its current year performance is now about -17.99%.

Compania de Minas Buenaventura SA (ADR) (NYSE:BVN) surged +4.65% to $14.18 and ranged between $13.95 and $14.57. The stock traded on volume of 2.99M shares versus average-daily volume of 2.11M shares. Its current year performance is now about -60.07%.

Vista Gold Corp. (NYSEMKT:VGZ) surged +2.50% to $0.820 and ranged between $0.80 and $0.85. The stock traded on volume of 1.11M shares versus average-daily volume of 707,179 shares. Its current year performance is now about -69.63%.

The rally in uranium stocks was attributed to a victory by Prime Minister Shinzo Abe’s Liberal Democratic Party in Japan as it might pave the way for nuclear plants to reopen, based on market speculation.

Uranium Energy Corp. (NYSEMKT:UEC) gain +12.33% to $2.46 and ranged between $2.18 and $2.48. The stock traded on volume of 1.37M shares versus average-daily volume of 592,127 shares. Its current year performance is now about -3.91%.

Uranium Resources, Inc. (NASDAQ:URRE) jumped +23.08% to $3.20 and ranged between $2.61 and $3.21. The stock traded on volume of 1.32M shares versus average-daily volume of 48,082 shares. Its current year performance is now about -40.74%.

Uranerz Energy Corp. (NYSEMKT:URZ) surged +21.37% to $1.42 and ranged between $1.16 and $1.42. The stock traded on volume of 1.44M shares versus average-daily volume of 449,029 shares. Its current year performance is now about +2.16%.

Ur-Energy Inc. (USA) (NYSEMKT:URG) jumped +14.53% to $1.34 and ranged between $1.17 and $1.34. The stock traded on volume of 1.38M shares versus average-daily volume of 941,511 shares. Its current year performance is now about +57.65%.