Shares of gold mining companies closed lower Wednesday, as the Dow Jones industrial average and Nasdaq composite index entered bear market territory, and the price of the metal surrendered most of its early session gains in U.S. trading.

Shares of gold mining companies rose Thursday after the price of the precious metal jumped in U.S. and European trading.

Shares of gold-mining companies opened mostly higher Tuesday as the price of the commodity jumped in U.S. trading.

"I think there's lots of good ideas in a market that's difficult," George Shipp of Scott & Stringfellow told CNBC.  He spoke at the end of a difficult week, following the release of difficult jobs data, with the economy and the market still facing difficult credit challenges.