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Wednesday, October 13, 2010

Eldorado (NYSE:EGO), Gammon (NYSE:GRS), Ivanhoe (NYSE:IVN) Surge on Gold Prices Soaring

Eldorado Gold Corp Ltd (NYSE:EGO); Gammon Gold Inc. (NYSE:GRS) Ivanhoe Mines Ltd (NYSE:IVN) are all moving higher with more record gold prices today, as the economic conditions remain conducive to ongoing gold strength.

Gold skyrocketed to another record high Wednesday, exploding to as high as $1,375.70 for December delivery. Spot gold was up over $20, rising to $1,370.70 at a little after 1:30 PM EDT>

Gammon Gold rose to $7.34, gaining $0.30, or 4.33 percent as of 1:35 PM EDT. Eldorado was up to $18.81, gaining $0.39, or 2.12 percent at 1:37 PM EDT. Ivanhoe made a move to $18.81, gaining $0.40, or 1.63 percent, also at 1:37 PM EDT.

Gold prices continue to move up on the inevitable resumption of inflationary spending by the Federal Reserve, otherwise known as quantitative easing.

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