Eldorado Gold (TSE:ELD), Yamana Gold (NYSE:AUY), AngloGold Ashanti (NYSE:AU), All Close Session Higher

It was interesting watching gold mining companies like Eldorado Gold
(NYSE:EGO) (TSE:ELD), Yamana Gold (NYSE:AUY) and AngloGold Ashanti (NYSE: AU) rose uniformly with the price of gold today, and they weren't the only gold miners doing that.

I checked out about 15 gold miners, and everyone of them moved in sync with gold prices throughout the day.

It went like this. First there was a huge increase in the price of gold, rising to record levels again, reaching just below $1,250 an ounce. Then right before noon there was a quick downward plunge, and not too long after noon, gold prices started upwards again.

Go and look at the charts of the companies listed above, and a number of others like NovaGold Resources (AMEX:NG), Apollo Gold (AMEX:AGT) Iamgold (NYSE:IAG), Barrick (NYSE:ABX) and Newmont (NYSE:NEM), and you'll see the same behavior. Pretty interesting.

That brings me to the conclusion that gold miners in general are starting to finally move in step with gold, and that gold prices have now seemingly taken them under their wing so to speak, and are driving the gold miners along with it.

A lot of gold mining investors have been waiting for this to happen on this large scale, and now it seems to be locked it; at least for a period of time.

Obviously fundamentals will be significant in the long term, but for now, it seems like this is going to be the trend, albeit one that could change just as quickly as it began.

Two things are driving this now, the fears over the repercussions of China dealing with their inflation problems, and the European debt crisis which will drag on for many years, and of which there is no way of knowing where it will all go or end.

A growing number of analysts and economists believe this is the end of the euro, as Europe didn't have the will to defend it and not bail out their socialist, welfare neighbors.

To the contrary, they're encouraging the behavior by bailing them out, although in reality they're directly bailing out the banks which hold the debt or bonds which have provided the good life for the socialist, who continue spending and consuming, using other people's money.

For gold investors this is good news, as there is absolutely no short-term fix for this, and no matter how much money is ended up thrown at it, it won't solve the problem, only extend it down the road, and how far down the road will only be determined by how many trillions they end up throwing at it.

So maybe the socialists will get there way (for a very short time), but sooner or later the bill will come due, and if this goes like I think it will, with the Federal Reserve, central banks and governments around the world still drunk with spending from the bailout of banks and businesses around the globe, we'll probably see the most extraordinary and outrageous behavior from these people that will be unprecedented in history as to its scope, and gold and well-run gold mining companies should continue to flourish as this plays out over the years.

AngloGold Ashanti rose by $0.19, Yamana Gold increased $0.13 and Eldorado Gold was up $0.25, all in New York.