Eldorado (NYSE:EGO), AngloGold Ashanti (NYSE:AU), Novagold Resources (AMEX:NG) Rise as Gold Prices Today Rebound

It was only a matter of when and not if, gold prices were going to resume their upward move, and it appears the temporary correction in gold may be over, and gold miners like Eldorado (NYSE:EGO), AngloGold Ashanti (NYSE:AU), Novagold Resources (AMEX:NG) are participating in the rise in gold prices today.

We can't be certain the gold correction is over yet, but the news Ireland is going to be bailed out with potentially tens of billions of euros, and the resultant plunge in value of the U.S. dollar seems to point to the correction being over.

There is still the lingering expectation China and other Asian countries may join South Korea in raising their interest rates, but that shock seems to be over, and may be priced into gold, as well as the psyche of investors.

Spot gold has soared today,, as well as gold futures on the Comex division of the New York Mercantile Exchange, which has risen by $10 to $1,346.90, a gain of 0.8 percent.

Spot gold prices have pulled back slightly, but are still at $1,352.80 an ounce, a gain of $17.00 on the day as of 2:45 PM EDT.

NovaGold was trading at $14.52, rising by $0.12, or 0.83 percent at 2:45 PM EDT. AngloGold was at $47.70, gaining $0.39, or 0.82 percent. Eldorado was up to $17.15, increasing by $0.44, or 2.63 percent.