Today's Gold Prices Bouncing Around

Gold prices have been swinging wildly today, as traders seem to be having some influence there, and the seemingly endless news concerning the EU sovereign debt crisis continues to move the metal up and down, along with other precious metals as well.

Gold prices today had reached almost $1,250, before pulling back to below yesterday's record. Now they've moved back up in the positive again, as the gold price swings continue.

Gold mining companies like Barrick Gold (NYSE:ABX) (TSE:ABX) and Newmont Mining (NYSE:NEM) have moved in tandem with gold futures prices, something that has started to happen more often after gold broke its all-time record on Wednesday.

For some time, gold mining companies in general had been lagging behind the price of gold, and now for some, that time seems to have ended after gold broke through, and the news concerning European debt and China inflation continues to be a huge impetus behind the price of gold.