Gold Moves Higher And Gives Gold Fields (GFI) A Boost

Posted: Thursday, November 19, 2009 2:03 PM EDT

Gold Fields (NYSE: GFI) opened at $14.18. So far today, the stock has hit a low of $14.08 and a high of $14.39. GFI is now trading at $14.28, down $.04 (-0.28%). The stock hit its 52-Week high of $15.24 in last month and set its 52-Week low of $5.20 in last November. GFI is rebounding this afternoon on the back of rising gold prices. Gold had been trading lower for the most of the day, but has recently jumped back into the green in afternoon trading. Technical indicators for the stock are and S&P does not currently have a STARS rating for GFI. If you are looking for a hedged play on GFI the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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