Gold is having a moment, and Coeur Mining (CDE) is riding the wave. Shares of the precious metals producer climbed 7.37% to $17.40 on Wednesday, as a broader rally in gold stocks took hold. The Nasdaq slipped 0.36%, but the S&P 500 managed a modest 0.04% gain, so this wasn't a market-wide surge—it was all about the yellow metal.
Gold prices extended their run to around $4,250 an ounce on Wednesday, the highest level since June 18, according to Trading Economics. The move came as the dollar weakened and investors grew hopeful that a resolution to the conflict in the Middle East could ease inflationary pressures.
President Donald Trump said the U.S. and Iran held "very good discussions" on Tuesday, raising hopes for a deal to end their five-month standoff. The prospect of restored energy supplies from the region pushed oil prices down about 10% this week, which in turn lowered inflation concerns and reduced expectations for further Federal Reserve tightening. When the Fed looks less likely to hike, gold tends to shine, and mining stocks like Coeur benefit directly.
Critical Levels To Watch for CDE Stock
From a longer-term trend perspective, CDE is still recovering from mid-year damage. The 50-day simple moving average (SMA) sits below the 200-day SMA—a death cross that occurred in June—which typically signals the bigger trend needs more time to fully repair. That said, the stock is now trading 12.2% above its 20-day SMA ($15.43) and 5% above its 50-day SMA ($16.49), showing the intermediate-term rebound is still intact.
The key "tell" right now is the battle around the longer averages: CDE is trading 1.7% below its 100-day SMA ($17.61) and 6.9% below its 200-day SMA ($18.59), so rallies are still running into overhead supply. MACD is above its signal line with a positive histogram, which in plain English suggests downside pressure is easing, and momentum is improving versus the prior downswing—even if the longer trend hasn't fully flipped.
- Key Resistance: $20 — a round-number zone that can act as a natural stalling point as price works back toward longer-term overhead supply
- Key Support: $15 — a nearby round-number area that sits close to the recent base and the 20-day SMA region where buyers have been active
CDE Price Action: Coeur Mining shares were up 7.37% at $17.40 at the time of publication on Wednesday, according to market data.
