Gold companies Tanzanian Royalty Exploration (AMEX:TRE), AngloGold Ashanti NYSE:AU), Northgate Minerals (AMEX:NXG) and Entree Gold Inc (NYSE:EGI) jumped on Tuesday as gold prices rose to $1,455.50 an ounce to reach a record high.
Gold for June delivery was up $19.50, or 1.4%, to $1,452.50 an ounce on the Comex division of the New York Mercantile Exchange.
Continuing unrest in the Middle East, the EU sovereign debt crisis, Japan's struggle and political uncertainty in the United States is the major impetus behind the action.
The inevitability that Federal Reserve Chairman Ben Bernanke won't stop printing money is also a major part of the continuing rise in gold prices.
Entree Gold Inc closed Tuesday at $3.07, gaining $0.06, or 1.99 percent. Northgate Minerals closed at $2.74, rising $0.07, or 2.62 percent. Tanzanian Royalty Exploration closed at $6.43, up $0.08, or 1.26 percent. AngloGold Ashanti ended the session at $50.32, increasing $1.66, or 3.41 percent.
Wednesday, April 6, 2011
Gold Companies (AU) (TRE) (NXG) (EGI) Up on Record Gold Prices
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