Wednesday, April 21, 2010

Allied Nevada Gold's (AMEX:ANV) Great Performance

Over the last year and a half, Allied Nevada Gold (AMEX:ANV) has been one of the stronger performing mining companies, continuing to move up on a nice stair-step pattern during that period of time.

For the last 52 weeks, they've continued to do the same, moving from a a range of $5.29 to $17.16.

Obviously tied into the performance of gold, Allied Nevada Gold will move in accordance with gold prices, and that bodes well for the company and its investors, as it will probably move to more all-time highs in the near future (share price), as gold continues to be the preferred place of safety for investors, and ongoing uncertainty in the markets along with inflation worries should keep gold prices up for some time.

It has yet to be proven how gold prices will respond to interest rate hikes, but that shouldn't be for some time, and with the decoupling from the U.S. dollar recently, it may have far less impact on gold prices than in the past, and gold miners like Allied Nevada Gold.

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