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Wednesday, April 21, 2010

Barrick Gold (TSE:ABX), Goldcorp (TSE:G) Rise with Gold Prices

The continuing concerns over the debt crisis in Greece has investors going back to gold as a safe haven, and gold mining companies like Barrick Gold (TSE:ABX)(NYSE:ABX)and Goldcorp (TSE:G)(NYSE:GG) continue to ride the wave with them.

Both Barrick and Goldcorp made nice moves upward today, as investors look for a cheaper, but safe way to invest in the metal.

Even with the better performance of companies in their quarterly reports, that hasn't made much of an impact on the market, as they are mostly being compared with the disaster last year, which doesn't really give a good snapshot of the health of these companies, as they pretty much had nowhere to go but up, even with the poorest of managements in place.

Gold stood at $1,146.50 as of this writing, a gain of over $6 an ounce on the day.

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