The spot price of gold was trading just above the US$1,810 mark by mid-afternoon on June 14.
North American markets were hammered to kick off the week on Monday. This stimulated some
investors to take another look at the gold space. Today I wanna look at a gold stock that’s soared
buy signals over the past few weeks.

Eldorado Gold (TSX:ELD)(NYSE:EGO) is a Vancouver-based company engaged in mining,
exploration, development and sale of mineral products in Canada and abroad. Share this
gold stock has fallen 19% in 2022 at the time of this writing. The title is down 31% compared to the
last year.

This company published its results for the first quarter of 2022 on April 28. Eldorado reported total revenue of $194.
million in the first quarter of 2022, compared to $224 million the previous year. The company recorded a loss due to
severe weather issues in Turkey and Greece, as well as COVID-related labor issues. Fortunately, he
expects production to rebound strongly in the second half of fiscal 2022.

Eldorado shares are trading around their 52-week low at the time of this writing. The current stock
has an RSI of 33, which puts the gold stock just outside technically oversold territory. He is
trading in favorable value territory relative to its industry peers. I’m looking to snatch this stock of gold
down as it is well positioned for a rebound for the remainder of 2022.