$NG

Gold Futures Edged Up $7.50 – ABX, KGC, GG, IAG, EGO, HMY, AU, NG, ANV

On Wednesday Gold futures surged by erasing the losses of previous session, following the Federal Reserve’s policy statement and the initial reading of U.S. growth for the second quarter.

For December delivery, gold moved up $7.50, or 0.6%, to $1,332.30 an ounce in electronic trade, with the dollar-denominated commodity showing a modest gain for the U.S. dollar DXY +0.02%  against major competitors. On Tuesday gold fell $4.80, or 0.4%, on the Comex division of the New York Mercantile Exchange.

As per analysts, gold prices have been benefited from the monetary stimulus from the Federal Reserve and other central banks. Later on Wednesday, investors will likely inspect the Federal Reserve’s monetary policy statement, to look for any signs of when it plans to taper the pace of bond buying, now at $85 billion a month. The U.S. Commerce Department is likely to report second-quarter gross domestic product grew on Wednesday.

The US jobs data for July is due on Friday, is expected to show the economy added 175,000 net jobs, as per the survey of MarketWatch. US unemployment rate is forecast to fell to 7.5% from 7.6%.

Among the gainers in gold miners are NovaGold Resources Inc. (USA) (NYSEMKT:NG) shares edged up 1.74%.

Among the losers in gold miners, Barrick Gold Corporation (USA) (NYSE:ABX) shares were down -1.99%. Kinross Gold Corporation (USA) (NYSE:KGC) shares plunged -1.87%. Goldcorp Inc. (USA) (NYSE:GG) shares shed -1.12%. IAMGOLD Corp (USA) (NYSE:IAG) shares were down -0.19%. New Gold Inc. (USA) (NYSEMKT:NGD) shares plunged -3.44%. Allied Nevada Gold Corp. (NYSEMKT:ANV) shares fell -1.03%.

Barrick Gold Corporation (USA) (NYSE:ABX) shares fell -1.99% in last trading session and is closed $17.55 with average volume 21.16 million shares, in After Hours trading ABX stock increase 0.29%. Kinross Gold Corporation (USA) (NYSE:KGC) shares fell -1.87% in last trading session and is closed $5.36 with average volume 11.59 million shares. Harmony Gold Mining Co. (ADR) (NYSE:HMY) shares fell -0.78%. AngloGold Ashanti Limited (ADR) (NYSE:AU) shares fell -1.78%.

Goldcorp Inc. (USA) (NYSE:GG) shares fell -1.12% in last trading session and is closed $28.61 with average volume 8.67 million shares, in After Hours trading GG stock increase 0.39%. IAMGOLD Corp (USA) (NYSE:IAG) shares fell -0.19% in last trading session and is closed $5.27 with average volume 6.98 million shares, in After Hours trading IAG stock increase 0.19%. Eldorado Gold Corp (USA) (NYSE:EGO) shares fell -2.68% in last trading session and is closed  8.22 with average 5.64 million shares, in After Hours trading EGO stock fell -0.38%. Harmony Gold Mining Co. (ADR) (NYSE:HMY) shares fell -0.78% in last trading session and is closed $3.85 with average volume 3.13 million shares.

New Gold Inc. (USA) (NYSEMKT:NGD) shares fell -3.44% in last trading session and is closed $7.56 with average volume 3.95 million shares.  AngloGold Ashanti Limited (ADR) (NYSE:AU) shares fell -1.78% in last trading session and is closed $13.47 with average volume 3.97 million shares, in After Hours trading AU stock fell -0.38%.  NovaGold Resources Inc. (USA) (NYSEMKT:NG) shares advance 1.74% in last trading session and is closed $2.87 with average volume 2.04 million shares.   Allied Nevada Gold Corp. (NYSEMKT:ANV) shares fell -1.03% in last trading session and is closed $6.82 with average volume 3.49 million shares