Short Sellers Jostle for Position on Gold-Mining Stocks

Short Sellers Jostle for Position on Gold-Mining Stocks

In the two-week short interest reporting period that ended October 30, the price of gold slipped by about 1.5%. For the year to date, gold futures have gained approximately 22%, after posting an all-time high at $2,089.20 in July. Shortly before noon Wednesday, the yellow metal traded at around $1,863 per ounce.

Short interest decreased on three of five gold-mining stocks and increased on two of three gold exchange-traded funds in the two-weeks ended October 30.

Newmont Corp. ( NYSE: NEM ) saw short interest fall by 187% to 8.0 million shares. That represents about 1.0% of the company’s float. Days to cover remained at two. In the two-week short interest period, the share price slipped by about 0.3%. Its 52-week range is $33.00 to $72.22, and shares traded at $63.55 on Wednesday.

Barrick Gold Corp. ( NYSE: GOLD ) short interest rose by 4% in the two weeks to the end […]

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