6 Gold and Mining Stocks to Watch

Even with the market in a frenzy, gold is still in demand. Especially now that the Feds cut rates by 75bp, you can expect the trend to continue. I have claimed GLD to be my true love in the past because of its supreme run, and this is just one example of a solid play on gold.

With that said, here are 6 different stocks that are involved in gold, or gold and silver mining that should be on your watch close watch list.

Goldcorp, GG Stock is looking quite juicy right now at just above $35 a share, with the stock hitting a high last week of $39.94. If the 50 day moving average can start to uptrend again, watch out. As of this post GG stock rests at $35.06.

GG Stock Chart, Click to View

Barrick Gold Corp, ABX stock has strong exposure internationally and mines gold alongside copper. The stock has found fantastic support recently at $45 which has to have the bulls happy, and is seeing short term resistance around $50. As of this post ABX stock is trading at a last of $48.10.

ABX Stock Chart, Click to View

Randgold Resources, GOLD stock is a play on gold in Africa. The stock has had a fantastic run since early September running from $25 all the way to $45, and as of this post lies at $43.27.

GOLD Stock Chart, Click to View

Kinross Gold, KGC stock has moved nicely as well since early September, and just yesterday the stock found great support at $19 and its 50 day moving average. KGC is a buy above $21.50 and easily has potential to move up to $25 if Gold stocks overall continue to press higher. As of this post KFC sits at $20.20

KGC Stock Chart, Click to View

Buenaventura Comp, BVN stock has seemed to find support at its 50 day moving average, but has fallen under key support area $60 which makes me skeptical. Last week the stock peaked out near $71, and as of this post is at a last of $58.32.

BVN Stock Chart, Click to View

Last but not least everyone has to know about the Streettracks Gold Trust, GLD ETF. $86 is the key level here for the bulls and this ETF has been a favorite since it was trading in the low $70s. Look for intraday resistance between $88 and $90. GLD as of this post is at a last of $87.89.

GLD ETF Chart, Click to View

Euro Stocks Lower as Pharmas and Banks Sink

European stocks slipped into territory Friday afternoon, tracking U.S. futures and with declining pharmaceuticals and banks dragging on the major indexes.

U.S. stock index futures lost their positive bias, with fears of a U.S. recession returning to the market.

In Asia, many investors were away for the Lunar New Year. Japan fell 1.4 percent in a quiet session and Australia finished 1.1 percent higher, in thin volumes.

GlaxoSmithKline was one of the lead losers on the FTSE-100, with declines of 2.9 percent, as the London-listed drug maker was downgraded by Fitch Ratings after it warned on 2008 earnings Thursday. Sanofi-Aventis and Merck were also lower.

Fears over the health of the U.S. economy and the spreading of the credit crunch still remained a key concern, with some analysts saying any recovery is likely to be short-lived. 'The fundamental themes are still there, still a lack of confidence in economic figures and also increasingly in the corporate figures, with the likes of Glaxo,' Justin Urquhart Stewart, a director at 7 Investment Management, told Reuters. 'Any rebound we see today is going to be pretty thin stuff without much backbone.' Basic resources, financial services and technology stocks were the stars of Europe's Friday morning rally, rising more than 2 percent.

Alcatel Lucent's shares rose more than 2 percent despite the fact that it gave a grim outlook and suspended its dividend.

Construction group Sacyr Vallehermoso rose 4.2 percent after a newspaper report that a French-backed group of banks and insurers were in talks to buy its one third stake in Eiffage.

French construction group Lafarge rose 3.4 percent after a newspaper report said investment group GBL may raise its stake to 18 percent and possibly to 25 percent.

The rise in crude oil futures helped push up shares in BP, Total and Royal Dutch Shell, which rose between 0.6 and 1.4 percent.