Eldorado Gold (NYSE:EGO), Gammon Gold (NYSE:GRS) and Ivanhoe Mines (NYSE:IVN) are all in positive territory today, moving up with the broader gold market as investors flee to safety because of concerns over possible sovereign debt contagion in Europe.
The unusual event of the U.S. dollar moving up along with the price of gold is occuring again, as it had each time the fears concerning the sovereign debt crisis and uncertainty over the future of the euro are brought to the forefront recently.
As long as the story is headline news, that will probably be the case. The longer the narrative, the longer the two will move up together in general.
Eldorado Gold was trading at $17.43, rising by $0.52, or 3.08 percent as of 2:44 PM EST. Gammon was at $6.68, gaining $0.16, or 2.45 percent. Ivanhoe rose to $24.44, increasing by $0.25, or 1.03 percent.
Tuesday, November 30, 2010
Eldorado (NYSE:EGO), Gammon (NYSE:GRS), Ivanhoe (NYSE:IVN) Push Up on Rising Gold Prices
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