Gold Miners (GRS) (NSU) (CGC) (BVN) Soar on Record Gold Prices

Gold companies Gammon Gold (NYSE:GRS), Nevsun Resources (AMEX:NSU), Capital Gold Corp. (AMEX:CGC) and Compania de Minas (NYSE:BVN) soared on Tuesday as gold prices rose to $1,455.50 an ounce to reach a record high.

Gold for June delivery climbed $19.50, or 1.4%, to $1,452.50 an ounce on the Comex division of the New York Mercantile Exchange.

Continuing unrest in the Middle East, the EU sovereign debt crisis, Japan's struggle and political uncertainty in the United States is the major impetus behind the action.

The certainty that Federal Reserve Chairman Ben Bernanke won't stop printing money is also a major part of the continuing rise in gold prices.

Compania de Minas closed Tuesday at $44.16, gaining $2.11, or 5.02 percent. Capital Gold Corp. closed at $6.30, rising $0.25, or 4.13 percent. Nevsun Resources closed at $6.29, up $0.32, or 5.36 percent. Gammon Gold ended the session at $10.12, increasing $0.28, or 2.85 percent.

Gammon Gold (NYSE:GRS) Upgraded by Credit Suisse (NYSE:CS) to "Neutral"

Credit Suisse (NYSE:CS) has upgraded Gammon Gold (NYSE:GRS) from "Underperform" to "Neutral."

Gammon has struggled through the last year, although after bottoming out in July, they've gradually been coming back. They reached a high of $12.63 during that time.

They just signed a deal with Capital Gold Corporation (AMEX:CGC) acquire them, giving Gammon an even stronger presence in Mexico.

Gammon Closed Tuesday at $6.99 a share, gaining $0.18, or 2.64 percent.

Credit Suisse increased the price target on Gammon from $6.50 to $7.50.