Friday, April 8, 2011

Ivanhoe (IVN) (IAG) (NG) Jump on Record Gold Prices

As the price of gold rockets toward $1,500 an ounce, shares of gold miners are riding the wave as well, with Ivanhoe (NYSE:IVN), Iamgold (NYSE:IAG), Novagold (AMEX:NG) all trading in positive territory today.

The price of gold today has taken off, soaring as high as $1,473 an ounce, reaching another all-time high.

So far this week the price of gold has jumped 3.1 percent, as the U.S. dollar continue to collapse and investors look to tangible assets to invest their money.

Silver also made a significant move today, surpassing the $40 an ounce mark, another 31-year high for the commodity as well. Silver has risen about 6.3 percent this week.

Iamgold was trading at $23.18, gaining $0.24, or 1.05 percent, as of 12:17 AM EDT. Novagold was trading at $13.98, up $0.58, or 4.33 percent. Ivanhoe was trading at $28.28, rising $0.25, or 0.89 percent.

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