The gold price today moved up quickly in the morning, and has remained level as the trading day goes on, with major gold miners Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) moving up with them, as investors continue to seek safety in the midst of economic weakness and uncertainty.
Spot gold was up $11.20, bringing the price to $1,247.60 an ounce as of 2:39 PM EDT. Gold prices are starting to move downward slightly now, although remaining flat after the huge jump in the morning.
Barrick Gold was at $46.95, gaining $0.61, or 1.32 percent at 2:40 PM EDT. Goldcorp reached $44.40, an increase of $0.67, or 1.53 percent, as of 2:41 PM EDT. Newmont Mining was up the most of the three, reaching $61.27, up $1.35, or 2.25 percent.
Out of control government spending which has done little, if anything, for the economy, and continued bad news from most parts of the economy have investors scrambling to gold to protect their capital, while at the same time enjoying decent returns.
1 comment:
With the bullish forecast of gold prices we'll see higher gold stocks.
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