Gold miners are probably all glad the brutal gold correction of last week seems to have taken a breather, as gold prices, along with the price of gold mining shared plunged, and gold miners like Alamos Gold (TSE:AGI) and Agnico Eagle Mines NYSE:AEM)(TSE:AEM) participated strongly in that drop in share price, along with most of their colleagues.
Alamos Gold ended their week on the upswing, gaining 0.41 percent, or 6 cents a share in Toronto. Volume also fell, seeming to imply traders may have taken their profits during the last week, and are for the most part out of the gold market temporarily. That would be good news overall for gold prices and gold miners, which should start to move upward again now that speculators, for now, are largely gone.
Alamos finished the week at $14.87 a share.
Agnico Eagle (TSE:AEM) had a tougher week, dropping 0.35 percent in New York, or $0.20 a share. As usual, volume as measured by percentage and numbers was higher in New York for Agnico, finishing Friday with 3,956,943, up from the 3-month average of 2,994,710. Share price closed the week in New York at 56.56.
In Toronto, Agnico was also down, dropping 1.22 percent, or $0.74 a share. Volume by percentage was much lower than the 3-month average, ending the day at 576,366, down from the 3-month average volume of 821,027. Shares finished the week at $60.09.
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