Thursday, November 18, 2010

Randgold (Nasdaq:GOLD), Ivanhoe (NYSE:IVN), Gammon (NYSE:GRS), Gold Fields (NYSE:GFI) Mixed on Level Gold Prices

Randgold Resources Limited (Nasdaq:GOLD), Ivanhoe LTD.(NYSE:IVN)
Gammon Gold (NYSE:GRS), Gold Fields (NYSE:GFI) were mixed, with Randgold falling in share price Wednesday and the other three rising just above their Tuesday close.

The gold market is taking a breather as it waits to see which way things like China's interest rates, EU sovereign debt, and the strength of the U.S. dollar and euro go.

After plunging in price, gold seems to have fully priced in the concerns and is waiting for direction. Gold prices are sure to fall again once the announcement by China is made that they're going to raise interest rates to combat inflation, but the other elements should be priced in already.

Quantitative easing by the Federal Reserve will be a counterbalance to all this, and will increase volatility in gold and other commodity prices until all these circumstances play out.

Randgold closed Wednesday at $94.53, dropping $0.78, or 0.82. Ivanhoe was up to $23.62, gaining $0.10, or 0.43 percent. Gammon was at $6.27, rising $0.04, or 0.64 percent. Gold Fields increased slightly by $0.06, or 0.36 percent, closing at $16.67.

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