Gold Prices Going Up

Kinross (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Harmony (NYSE:HMY) Explode Upward on Rising Gold Prices

Kinross Gold Corp (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Harmony Gold Mining (NYSE:HMY) are moving up in a major way in response to the explosion in gold prices and the overall response of the broader gold market.All of this is the result of the misguided move by the Federal Reserve to inflate, or as they like to describe it now: implement a new round of “quantitative easing.”Consequently the

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Goldman (NYSE:GS) Economic Report Support Gold Price Moving Up

Almost everything reported concerning the U.S. economy today confirms the ongoing recession, and Goldman Sachs (NYSE:GS) believe there’s no doubt the Federal Reserve will inflate via quantitative easing, adding more support to gold, although that’s probably priced into the price of gold at this time. How much it’s priced in will be determined by what the Federal Reserve does and to what extent.

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Bank of America (NYSE:BAC) Says Quantitative Easing Will Pressure Gold

In a recent note to clients, Bank of America Corp (NYSE:BAC) said quantitative easing by the Federal Reserve will put upward pressure on gold prices, as the U.S. economy continues to sputter.Bank of America said, “Since the first round of QE, precious metals have perhaps become the biggest beneficiary of money printing. In a way, gold is playing out as a second act of the credit bubble, with the

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Newmont Mining (NYSE:NEM) Making its Move?

If you look at a chart of Newmont Mining’s (NYSE:NEM) performance over the last five years, you find it less than inspiring, as until this summer, it hadn’t reached the levels it has in the early part of 2006, when it hit $59.87 on January 9.It took until June of 2010 for the largest U.S. gold miner to reach and surpass those levels, and it looks like they may have finally broken out, closing at

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Gold Still Inexpensive Says Marc Faber

Speaking at a CLSA Investors’ Forum 2010 in Hong Kong recently, Marc Faber said he still sees gold prices as relatively inexpensive, even though record prices continue to be set. Faber gave his reasoning as this, “Given all the unfunded liabilities and the money printing in the world and the size of the financial assets in the world, I don’t think we are in a bubble.”He’s definitely right. At

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George Soros Clueless on Gold and "Ultimate Bubble"

George Soros seems to be clueless on gold and his obsession with it being the “ultimate bubble.”Soros doesn’t seem to understand the reason there’s support under gold and why that will continue for a long time.He said to Reuters, “I called gold the ultimate bubble which means it may go higher but it’s certainly not safe and it’s not going to last forever,” although reluctantly admitting it’s the

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Gold Prices Reaching for New High Today

Gold prices today have soared on the news the so-called stress tests of the European banks probably didn’t accurately portray the level of government debt they held. In mid-day, gold for December delivery increased to $1,261.60. If it were to close at those levels, it would surpass the record high of $1,258.30 an ounce, set on the Comex division of the New York Mercantile Exchange in June,

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Peter Schiff Says Price of Gold Unlimited

In a recent interview which focused on being in the early stages of an inflationary depression, Peter Schiff also responded to a question on how high he felt gold prices were going to go.His take is he’s shocked that it’s still at only $1,200 an ounce, and sees no limit to the upside potential in the current economic climate.Schiff said in responding to how high he felt gold would go: “There’s no

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Jefferies & Co. Reaffirms Barrick (NYSE:ABX) Price Target on Gold and Silver

Jefferies & Co. said today they recommend investors to add to their positions in Barrick Gold (NYSE:ABX), as they said they don’t see gold and silver prices dropping anytime soon. The price target on gold remains $1,300, while the silver prices target continues at $20 an ounce.Jefferies said in a note to clients, “We highlight metal company participation at next week’s Industrials and Aerospace &

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Gold Soars for 8th Straight Day, Payrolls Down, Recession Worries Up

News outlets reporting on the “disappointing” and “unexpected” results of the U.S. payroll data, somehow find themselves using those words every time the economic data confirms the frailty of the U.S. economy, which when you remove the government props, at best show they’ve only slowed down the economic crisis, and at worst, and most probable, exasperated it. Now we’re almost surely going to

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Aurizon Mines (AMEX:AZK) and Minefinders (AMEX:MFN) in Positive Territory on Gold Prices Rising

Gold prices shot up quickly today, reaching over $1,202 an ounce, before pulling back slightly. Now gold prices have given up a little more, although they’re still holding over $10 on the day. Aurizon Mines (TSE:ARZ)(AMEX:AZK) and Minefinders (TSE:MFL)(AMEX:MFN), along with a number of gold miners and miners in general, have moved up with the gold prices. If they gold holds for the day, which

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Seabridge Gold (AMEX:SA), Northgate Minerals (AMEX:NXG), Jaguar Mining (NYSE:JAG) Strong on Gold Prices Surging

Seabridge Gold (TSE:SEA)(AMEX:SA), Northgate Minerals (TSE:NGX)(AMEX:NXG), Jaguar Mining (TSE:JAG)(NYSE:JAG) are all moving up with the price of gold today, as are most gold mining stocks, as a slow but steady positive move continues for gold, which has been in positive territory for the sixth day in a row. Northgate has flirted around $3.00 a share today, although it’s standing at $2.99 at

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