After Newmont Mining (ASX:NEM) (NYSE:NEM), Agnico-Eagle Mines (TSE:AEM) (NYSE:AEM) and Barrick Gold (TSE:ABX) (NYSE:ABX), and other gold mining companies revealed strong earnings and outlooks on the quarterly reports, it looks like they are ready to finally break out and perform more in line with gold prices than underperform like they have been.
With many things lining up favorably for gold, it increasingly looks like gold may end up beating last year's record highs.
As the depth of the emerging sovereign debt crisis in Europe is unveiled, it has caused investors to pour their money into gold as the best and safest place to be, especially that it is now understood that there is no way this is going to stop with Greece, and no doubt the will of the European Union is being test in a way it hasn't been since its inception.
Possibly the best thing for the gold mining companies at this time is that they're getting so much attention it seems to have helped a lot of investors understand the industry better and how they can invest in that to their advantage.
But just like last year, the underlying drive of gold prices is as a haven of safety, and with the sovereign debt crisis of Europe and ongoing economic uncertainties, nothing seems in the way of gold prices to continue rise, and now it seems gold mining companies like Newmont Mining, Agnico-Eagle Mines and Barrick Gold are going to ride that wave even higher, and take their investors with them.
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