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Analyst Cuts Price Targets For These Gold Stocks, Names Agnico Eagle Top Pick

Second-quarter earnings season was mostly bad news for North American precious metal miners. Several producers lowered their guidance for the second half of the year, and Bank of America analyst Lawson Winder lowered his price target for a handful of gold and silver miners on Monday.

AEM

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Gold Seeing Bullish Momentum

On the daily price chart, it’s clear that gold topped out in March at $192 — using the SPDR Gold Trust (NYSEARCA: GLD) as a proxy for gold price — and that a low of $158 came on July 21. Since then, the metal is seeing bullish momentum as it lifts up off of the lows and blasts it way back up to the $167 level before a bit of selling came in early August.

GDX