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Monday, July 25, 2011

NovaGold (NG) (GG) (NEM) (EGO) (ABX) Trading Up as Gold Jumps

The price of gold is hopping again today, pushing up shares of gold miners like NovaGold (NYSE:NG), Goldcorp (NYSE:GG), Newmont (NYSE:NEM), Eldorado Gold (NYSE: EGO) and Barrick Gold (NYSE:ABX), as the market remains jittery over the inability of politicians to come to a conclusion concerning the debt ceiling.

U.S. gold futures for August delivery rose to $16.80 an ounce at $1,618.30.

Spot gold climbed as high as $1,624 an ounce and was up 1.1 percent at $1,615.74 an ounce.

Expectations are the price of gold will be volatile this week, moving in conjunction with news stories released covering the negotiations.

Silver Prices jumped to $41.08 an ounce in Monday morning – a 2.5 gain from the close on Friday. It has pulled back since then.

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