Dow Jones soars above 23,000. Is it too stretched? >>> READ MORE

Gold Rush Could Make AUY a Solid Buy

Breakout in Yamana Gold possible as investors move to safety of precious metals


Yamana Gold (NYSE: AUY) — This large-cap Canadian gold miner made a high at just over $13 in March, but fell to a low of just over $11.25 in June. Since November, the stock has been consolidating in that broad range. 

In late June, Yamana announced a major discovery of gold and copper in Brazil, and yesterday, it broke through its bearish resistance line on high volume and an increase in momentum.

This popular mining operation could benefit from a rush by investors to the perceived safety of gold ownership. A break to new highs is possible with a 12-month target of $15. 

Trade of the Day – Yamana Gold (NYSE: AUY)

Trade of the Day Chart Key


Ask Sam on Facebook

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC