Miners Hecla Mining (HL), Goldcorp (GG) are moving up today, as well as Market Vectors Gold Miners ETF (GDX) and the Market Vectors Junior Gold Miners (GDXJ), which are all jumping.
Gold futures were down slightly in New York in morning trading with contracts for April delivery at $1,405.60 an ounce. Spot gold was up $3.90 to $1406 an ounce as of 1:16 PM EST.
While a number of analysts believe there has been some downward pressure on the sector because of profit taking and what some assume are better alternatives at this time, there are just as many that see mixed signals and enormous uncertainty in the Middle East, sovereign debt crisis in Europe and soaring inflation as just as powerful factors in determing where capital will flow.
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