Eldorado Gold Corp Ltd (NYSE:EGO), Yamana Gold, Inc. (NYSE:AUY) and Novagold Resources Inc (AMEX:NG) are participating in the broad gold market, as gold prices today soar to new levels, reaching over $1,380 an ounce.
Major gold miners like Freeport-Mcmoran (NYSE:FCX), Goldcorp (NYSE:GG) and Barrick Gold (NYSE:ABX) all moved up today as well.
Eldorado was trading at $18.98, gaining $0.47, or 2.54 percent at 1:39 PM EDT, Yamana was at $11.48, increasing $0.71, or 6.59 percent, and Novagold rose to $12.72, gaining $0.54, or 4.43 percent.
The move in gold prices seemed to linger for a day or two longer than expected, as the question of how high the Federal Reserve would go seemed to hold back investors.
Inflating by $100 billion more than the $500 billion the market was looking for, seems to have unleashed the build up emotions of waiting, and gold prices have been pushed up high today, and should be for some time as the Fed releases the money into the economy through the months ahead.
No comments:
Post a Comment