gold_down_bar.jpgAfter a sharp decline continuing over a week, the stock market rallied up today. This rally is somewhat of a recovery after reaching the lowest point in nearly 12 years. The overall market increase however did not guaranty that all stocks will rally today. New Gold Inc. (AMEX: NGD, NGD message board) was one of the company's that failed to move along with the market.

The company's stock had lost 17% of its value amid the trading session today. The move correlates with gold price finally dropping after a significant rally. The company's stock price retraced some loses after hitting a day's low of $1.95.

Still, the current price behavior might very well signal the end of the mild uptrend, which NGD was on, for the past three months. The share price entered a consolidation period in mid February.

Other gold companies also got battered today. Barrick Gold Corporation (NYSE: ABX) lost nearly 9%, IAMGOLD Corporation (NYSE: IAG) shed over 10% and Northgate Minerals Corporation (AMEX: NXG) declined 10.5% amid the trading session.

Non-penny stock companies seem to have managed better - losing only up to 5% of their stock value.

All these stock rallied up along with gold price and now they fall along with it. Although this is not necessary the end of uptrends for them, today investors would be better off playing with any of health care or information technology sector stocks. These sectors seem to have taken the leading position among market gainers today. 

References:

http://www.goldprice.org/live-gold-price.html

http://newgold.com/