Eldorado Gold (EGO) Jumps on Euro Fears

Eldorado Gold Corp. (NYSE:EGO) closed strong last week as concerns over the faltering European Union over its sovereign debt crisis pushed gold prices up, and gold miners with them.

June gold closed on Friday at $1,508.90 an ounce, up $16.50, trading in a range of $1,486.40 and $1,515.80.

For the Week gold was up by about 1.15 percent, but still down 4 percent from the all-time high of $1,575 an ounce reached in the early part of May.

Silver closed at $35.16, up 0.6 percent, but down by about 30 percent since a record high on April 28 of $49.51.

Eldorado Gold participates in the discovery, exploration, development, production, and reclamation of gold properties in Brazil, the People’s Republic of China, Greece, and Turkey.

Eldorado closed Friday at $15.68, up $0.20, or 1.29 percent. It has a market cap of $8.60 billion.