Thursday, March 11, 2010

Traders Drive Gold Stocks Up

Gold traders back in the game

After three days of pulling back, gold traders got back into the game, driving some of the gold stocks back up.

The Gold Index showed gains of 0.43 percent, as Barrick Gold (TSE:ABX) and Yamana Gold (TSE:YRI) surged over 1 percent for the day.

Data from a variety of places will take time to be absorbed, but major concerns were China may raise its interest rates in order to combat inflation and manage its economic growth, which continues at a hot pace even in the midst of the global recession.

Gold traders back in the game

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