Gold Fields (NYSE:GFI), Harmony Gold (NYSE:HMY) Rise on Safe Haven

Gold Fields Ltd. (NYSE:GFI) and Harmony Gold (NYSE:HMY) rose along with gold prices today as investors flee for safety to the yellow metal as equities continue to crash.

Gold has exploded past $1,200 an ounce in electronic, after-hours trading, surpassing the $1,211 mark at one time, and as of this writing was only about $10 off its all-time high.

The growing realization of how deep the sovereign debt crisis is in Europe has panicked investors, which has and will continue to push the price of gold up.

While this will help many gold mining companies in the short term, we still lead to look at fundamentals, the reason why some gold miners continue to underperform in a gold bull market.