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Despite sliding a little this week, gold still remained steady at the close of the market last week at $1.112. We also saw the dollar dip slightly and rise, as gold moves adversely to the dollar this influenced the price of gold.
Gold stocks are beginning to rise in value again. This is possibly due to more Gold companies increasing their gold production, in order to replenish their reserves, as demand for gold intensifies. Kinross Gold announced they were buying Underworld Resources, which will possibly lead to further speculation of mergers on the horizon.
Canadian based gold miner Gold Corp announced its fourth quarter earnings where optimistically up on what was previously expected. As gold production increases in response to global demand, analysts suggest that now is the time to jump on the bandwagon and buy gold while you can. |