Tuesday, August 3, 2010

Eldorado (NYSE:EGO), Fronteer (AMEX:FRG) Up on Gold Prices Rising

Gold and other metal prices have continue to rise in general, with gold enjoying its fifth straight positive trading day, although prices are creeping up, rather than skyrocketing. Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) and Fronteer Gold (AMEX:FRG) rose over 3 percent as investor confidence and bargain hunters return to the yellow metal.

Fronteer Gold Inc. ended the day at $6.07, an increase of $0.23, or 3.94 percent.

Eldorado Gold Corporation was just behind them when measured by percentages, closing the session at $16.49, a gain of $0.56, or 3.52 percent.

If gold prices can continue to increase incrementally, or even find support and remain pretty much level, once gold prices start to surge again, it could easily soar to record levels, and a number of gold miners will follow in their wake.

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