Novagold (NG) (EGO) (ABX) (GG) (AUY) (NEM) Soar with Gold Price

Shares of Novagold (NYSE:AMEX), Eldorado Gold (NYSE:EGO), Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG), Yamana (NYSE:AUY), Newmont (NYSE:NEM) jumped Friday, along with the price of gold, as it closed in on its record of $1,888.70, set on August 22.

Gold futures in New York closed at $1,873.70 an ounce, gaining $47.70, or 2.6 percent.

The ongoing recession, endless sovereign debt crisis in Europe, and surety of a another round of quantitative easing will continue to offer support to gold prices going forward.

Silver also jumped, climbing $1.54, or 3.7 percent, to $43.02 an ounce. It's still off its 30-year high of $48.58 reached on April 29.

Newmont Mining closed Friday at $64.47, gaining $2.00, or 3.20 percent. NovaGold ended the session at $10.91, up $0.69, or 6.75 percent. Yamana closed at $16.83, rising $0.75, or 4.66 percent. Barrick closed at $52.87, climbing $1.20, or 2.32 percent. Eldorado Gold closed at $20.85, jumping $0.49, or 2.41 percent.