Gold Fields (GFI) NewsBite - Declining Gold Futures Pull Down GFI

Posted on Wednesday, July 23, 2008 11:17 AM

Gold Fields Ltd. (GFI) opened at 12.15. So far today, the stock has hit a low of 12.07 and a high of 12.15. GFI is now trading at 12.11, down 0.51 (-4.20%). The stock hit its 52 week high of 19.91 in October and set its 52 week low of 10.66 in June. GFI has been losing ground for most of the past year. Gold Fields shares have been tumbling in morning trading hurt by slipping gold futures. Technical indicators for the stock are neutral and improving. If you’re looking for a hedged play on this stock, consider an October bear-call credit spread above the $15 range.GFI stock could rise up to 23.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]

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