Monday, April 11, 2011

NovaGold (NG) (AUY) (RGLD) (ANV) Rise as Gold, Silver Surge

Gold and silver prices are jumping again after leveling off for some time on unjustified optimism which has resulted in gold firms like
Yamana Gold (NYSE:AUY), NovaGold Resources Inc. (AMEX:NG), Royal Gold (TSE:RGL) (Nasdaq:RGLD) and Allied Nevada Gold (AMEX:ANV) soaring with the precious metals. Ivanhoe is less impacted by gold alone because of it becoming a diversified miner.

On Friday gold prices hit another new record, rising a high of $1,476 an ounce. Silver prices increased to a 31-year high, closing at 40.60 an ounce after reaching a high of $40.63 an ounce during the session.

The majority of this is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.

Strangely, many investors are acting as if these are some parenthetical events that have little bearing on the markets and commodity prices.

Allied Nevada Gold closed Friday at $40.56, gaining $1.28, or 3.26 percent. Royal Gold closed at $54.00, rising $0.21, or 0.39 percent. NovaGold Resources Inc. closed at $13.76, jumping $0.36, or 2.69 percent. Yamana Gold closed at $13.30, up $0.40, or 3.10 percent.

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