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Tuesday, June 15, 2010

Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG), Newmont Mining (NYSE:NEM) All Up over 2 Percent

After a few days of being pushed down, gold mining majors Barrick Gold (NYSE:ABX) (TSE:ABX), Goldcorp (NYSE:GG) (TSE:G), and Newmont Mining (NYSE:NEM) are rebounding nicely, all up over 2 percent as of 2:30 PM EDT.

The gold miners' share prices are moving up in conjunction with gold prices, with gold prices today increasing by $10.90, reaching $1,232.30 an ounce.

Now that the temporary gold correction is over, it'll be interesting to see if gold can break the $1,250 an ounce barrier, which once it does in a sustainable way, is expected to make significant gains, with some predicting gold prices could reach $1,300 even by the end of the week.

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