Short Sellers Flee AngloGold Ashanti and Gold Fields (AU, GFI, AUY)

The price of gold fell to less than $1,200 an ounce in December, the low for the year, but began to rise again as the year wound down. Short sellers again seemed to be looking for direction late in the month, as the swings in short interest were strong in many cases but mixed. The number of shares sold short in

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fell by more than 20 percent between the December 13 and December 31 settlement dates. Short sellers also shied away from Kinross Gold, Eldorado Gold, New Gold and Randgold Resources in the period. Agnico Eagle Mines saw little change from the previous period. However, Barrick Gold, GoldCorp and IAMGOLD saw double-digit percentage increases in short interest, and the number of shares short in Harmony Gold Mining, Newmont Mining and Royal Gold also increased somewhat. Furthermore, the number of shares sold short in silver companies First Majestic Silver, Pan American Silver and Silver Wheaton shrank during the period, while the short interest in Coeur Mining and Hecla Mining swelled.

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