Tuesday, March 16, 2010

Gold Stocks Surge with Gold Price

Gold Stocks Climb with Gold Prices

After gold prices exploded upward today in anticipation of the news the Federal Reserve would be keeping interest rates where they were, once the news was confirmed, gold prices increased even more, taking gold stock up with them, making a lot of investors very happy.

Large gold mining companies enjoying the resurgence were Barrick Gold (TSE:ABX) and Goldcorp (TSE:GG), which were both up over 2.5 percent on the day, gaining back what they lost last week.

With confirmation of the interest rates staying the same, we may see a nice move by gold again as everything is favoring the yellow metal at this time, with monetary policy, an inflation hedge and a place of safety all lining up to make things look good for some time to come.

Gold Stocks Climb with Gold Prices

No comments: