Monday, August 17, 2009

Commodity Roundup for August 17, 2009

Today equity markets around the world experienced a sharp sell off with Asian markets leading the way down. Gold prices also retreated nearly 1.5% during today's session, which put even further pressure on miners. One miner I would like to highlight is Newmont Mining Corp (NEM). Currently, NEM is sitting on some significant support and if the equity markets as well as the precious metals such as gold make another leg down it may be lead to some trouble for NEM. Below is NEM both on the daily and weekly.

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