Thursday, November 4, 2010

Royal Gold (Nasdaq:RGLD), Allied Nevada (AMEX:ANV), Centerra Gold (TSE:CG) Move Up with Fed's Inflating

Royal Gold (Nasdaq:RGLD), Allied Nevada Gold (AMEX:ANV), Centerra Gold (TSE:CG) moved up with the broader gold market in response to the misguided implementation of another round of inflating, or quantitative easing, by the Federal Reserve.

The U.S. dollar plummeted in value as gold prices rose to new record highs today, with spot gold rising to over $1,386 an ounce, an increase of over $37.90.

Royal Gold was trading at $51.46, gaining $1.13, or 2.25 percnet as of 3:31 PM EDT. Allied Nevada was up to $26.82, gaining $1.71, or 6.81 percent. In Toronto, Centerra Gold traded at $19.13, rising $0.25, or 1.32 percent.

The majority of gold miners were up today, some rising as high as 7 percent or more.


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