Wednesday, April 6, 2011

Miners (KGC) (JAG) (SA) (BAA) Rise on Record Gold Prices

Gold miners Banro Corporation (AMEX:BAA), Seabridge Gold, Inc. (AMEX:SA), Jaguar Mining Inc. (NYSE:JAG) and Kinross Gold (NYSE:KGC) were all up on Tuesday as gold prices rose to $1,455.50 an ounce to reach a record high.

Gold for June delivery rose $19.50, or 1.4%, to $1,452.50 an ounce on the Comex division of the New York Mercantile Exchange.

Ongoing unrest in the Middle East, the EU sovereign debt crisis, Japan's challenges and political uncertainty in the United States is the major impetus behind the action.

The expectation that Federal Reserve Chairman Ben Bernanke won't stop printing money is also a major part of the continuing rise in gold prices.

Banro Corporation closed Tuesday at $2.63, gaining $0.04, or 1.54 percent. Seabridge Gold, Inc. closed at $32.52, rising $0.48, or 1.50 percent. Jaguar Mining Inc. closed at $5.55, up $0.15, or 2.78 percent. Kinross Gold ended the trading day at $16.23, increasing $0.84, or 5.46 percent.

No comments: