This morning, the leading gold mining stocks are soaring higher to start the trading day. Leading gold mining stocks such as Newmont Mining Corp (NYSE:NEM), Barrick Gold Corporation (NYSE:USA) (NYSE:ABX), and Goldcorp Inc. (USA) (NYSE:GG) are all higher by more than 4.0 percent on the trading session. This important industry group has been rallying lately from a severely oversold condition.
Traders that want to follow the entire gold mining sector can follow the Market Vectors Gold Miners ETF (NYSEARCA:GDX). Today, the GDX is trading higher by $1.34 to $27.81 a share. Short term day traders should watch for intra-day resistance around the $28.38 level. This is an important resistance level where the GDX can pull back on the session.