Gold in a World of Failing Government

The majority of people still don't really understand the importance of gold, as they look at it primarily as an investment rather than a hedge against disaster and a protector of wealth.

This is why even in the midst of a failing global economy investors aren't buying up some physical gold as part of their financial strategy.

In some parts of the world, especially Europe, there is the very real possibility of social upheaval as the unemployment rate continues to climb in nations such as Greece, Spain, Ireland and Portugal. Young people have been hit the hardest, and of course are most likely to look for a scapegoat if things begin to unravel and a catalysts launches protest across the region. For no other reason than that people should have some physical gold on hand to protect them against the potential fallout from such a scenario that is increasingly probable.

We shouldn't pay attention to the financial media, as overall, around the world, the media has to be considered almost another arm of the government, as it prints out or reports on TV and the Internet pretty much what world leaders want to be reported on, unless the situation is so obvious there is no way it can be hidden.

Just look at recent stories of a recovery and economic healing even though the economies around the world are a disaster. You would think there was some type of economic revival going on the way most of the mainstream media asserts increasing economic health.

Whether you believe it or not (and you should), everyone that has wealth to protect should have some gold on hand because once unrest arrives or inflation begins to soar, the price of gold and silver will skyrocket, and the cost will be prohibitive for many seeking to buy some gold at that time, if it is available at all.

The major reason to own gold isn't for the purpose of building wealth, but protecting it and having something of value in case a worst-case-scenario plays itself out.

It's not a matter of if, but only where and when, as well as how widely it'll spread, concerning the surety of social unrest of some type breaking out in the world beyond the Middle East. 

Those holding gold will be positioned to ride it out better than those that are looking for equities, bonds and cash to sustain them.

Think of gold first of all as a safe haven, and only secondarily as something that can be used to grow wealth. And for physical gold, it's real value is solely in protection and little else. That must be understood if you're going to position yourself for the inevitable breakdown approaching, even if it doesn't happen in the specific country you live in.

Don't think if people storm banks and governments that you'll be spared some of the pain as far as financially goes, as now that almost everything is connected, what happens in one part of the world, especially if it were Europe or important parts of Asia, that it won't affect everyone around the world. It will. Be prepared by holding physical gold.

ProShares UltraShort Silver (ZSL), (AGQ) (SLV) Trade Mixed Silver, Gold Break Records Again

ProShares UltraShort Silver (NYSE:ZSL), ProShares Ultra Silver (NYSE:AGQ) and iShares Silver Trust (NYSE:SLV) closed mixed Friday as gold price records continue be broken.

Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.

Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.

The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.

The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.

Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.

Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.

Gold Breaks $1,500 as Kinross (KGC) (RGLD) (AUY) (HMY) Close Mixed

After blowing past the $1,500 an ounce mark on Tuesday, gold prices settled just under the important psychological barrier at $1,495.10, as gold miners Royal Gold (NASDAQ:RGLD), Yamana Gold (NYSE:AUY), Harmony Gold Mining (NYSE:HMY) and Kinross Gold Corp (NYSE:KGC) closed mixed on the day.

Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.

The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.

Silver prices for May delivery climbed almost a dollar to settle at $43.91.

Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.

Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.

Royal Gold closed Tuesday at $56.46, gaining $0.28, or 0.14 percent. Yamana Gold ended the session at $12.93, up $0.39, or 3.11 percent. Harmony Gold Mining closed at $14.78, falling $0.18, or 1.20 percent. Kinross Gold Corp. closed the day at $15.24, rising $0.02, or 0.13 percent.

Silver Pushing $44 as Silver Wheaton (SLW) (ISVLF) (GPL) (CDE) Close Mixed

Silver prices moved up with gold, reaching another 31-year high as gold blew past the $1,500 an ounce mark on Tuesday. Silver Wheaton (NYSE:SLW), Impact Silver (OTC:ISVLF.PK), Great Panther (AMEX:GPL) and Coeur d'Alene Mines (NYSE:CDE) closed mixed on the day.

Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.

The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.

Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.

The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.

Silver Wheaton closed Tuesday at $42.87, gaining $1.28, or 3.08 percent. Impact Silver ended the session at $2.42, down $0.05, or 2.02 percent. Great Panther closed at $4.00, losing $0.01, or 0.25 percent. Coeur d'Alene Mines closed the day at $31.11, gaining $0.48, or 1.57 percent.

Barrick (ABX) (EGO) (NG) (IVN) Trade Mixed as Gold Climbs Toward $1,500

On Friday gold prices soared toward the $1,500 an ounce mark, trading as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce. Eldorado Gold Corporation (NYSE:EGO), NovaGold Resources Inc. (AMEX:NG), Ivanhoe Mines Ltd. (NYSE:IVN) and Barrick Gold (NYSE:ABX) traded mixed as many gold miners pulled back after pushing up last week.

Inflation continues to be a major factor in gold price movement, as food and fuel prices in the U.S. continue to soar and consumer prices in China jump.

The ongoing weakness in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes gold an attractive safe haven alternative for capital.

Barrick Gold closed Friday at $53.33, falling $0.09, or 0.17 percent. Ivanhoe Mines Ltd. closed at $26.60, rising $0.22, or 0.83 percent. NovaGold Resources Inc. closed at $13.27, gaining $0.05, or 0.38 percent. Eldorado Gold Corporation ended the session at $18.06, up $0.18, or 1.01 percent.

Endeavour (EXK) (AG) (CDE) (PAAS) Trade Mixed as Silver Continues to Climb

Silver again hit new 31-year highs Friday soaring as high as $42.95 an ounce, closing the week up 4.9%. Silver for May delivery rose 90.7 cents to settle at $42.571 an ounce. Silver has risen just under 40 percent so far in 2011. First Majestic (NYSE:AG), Coeur d'Alene Mines (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Endeavour Silver (AMEX:EXK) traded mixed on the day.

Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.

Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.

The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.

Endeavour Silver closed Friday at $11.98, gaining $0.19, or 1.61 percent. Pan American Silver closed at $38.07, up $0.72, or 1.93 percent. Coeur d'Alene Mines closed at $31.30, rising $0.22, or 0.71 percent. First Majestic ended the day at $23.69, falling $0.33, or 1.37 percent.

IAMGOLD (IAG) (NEM) (AZK) (GSS) Trade Mixed as Gold Climbs Toward $1,500

On Friday gold prices soared toward the $1,500 an ounce mark, trading as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce. Newmont Mining (NYSE:NEM), IAMGOLD Corporation (NYSE:IAG), Golden Star Resources (AMEX:GSS) and Aurizon Mines (AMEX:AZK) traded mixed as many gold miners pulled back after pushing up last week.

Inflation continues to be a major factor in gold price movement, as food and fuel prices in the U.S. continue to soar and consumer prices in China jump.

The ongoing weakness in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes gold an attractive safe haven alternative for capital.

Newmont Mining closed Friday at $57.75, gaining $0.22, or 0.38 percent. IAMGOLD Corporation closed at $20.07, falling $1.85, or 8.44 percent. Golden Star Resources closed at $3.02, dropping $0.01, or 0.33 percent. Aurizon Mines ended the session at $6.78, down $0.11, or 1.60 percent.

Agnico-Eagle (AEM) (AZK) (JAG) (UXG) Skyrocket as Gold, Silver Surge

Gold and silver prices are taking off again after leveling for some time on unjustified optimism which has resulted in gold miners such as Jaguar Mining (NYSE:JAG), Aurizon Mines (AMEX:AZK), Agnico-Eagle (NYSE:AEM) and US Gold (AMEX:UXG) soaring with the precious metals.

On Friday gold prices soared to 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, worsening inflation and consequences of the Japanese earthquake are just some of the negative catalysts 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.

US Gold closed Friday at $9.58, gaining $0.17, or 1.81 percent. Aurizon Mines closed at $7.25, rising $0.14, or 1.97 percent. Jaguar Mining closed at $5.57, rising $0.04, or 0.72 percent. Agnico-Eagle closed at $66.64, up $1.08, or 1.65 percent.

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.

Southern Copper (SCCO), Newmont (NEM) Rise on Copper, Gold Exposure

Based on their exposure to copper and gold, Southern Copper (NYSE:SCCO) and Newmont Mining (NYSE:NEM) could be in good position to benefit from the price of both going up, as well as demand.

Copper and gold prices jumped on anticipated demand, and in the case of gold, safe haven status, as investors continue to be jittery on global events and economic uncertainty.

For copper, the demand from China and India, along with the emerging demand from Japan as it looks to rebuild after the earthquake, gives a strong impetus for prices to remain strong going forward.

Gold is also expected to continue to rise, and will get a boost from growing inflation as investors move to protect their wealth.

Southern Copper closed Wednesday $41.55, gaining $1.37, or 3.41 percent. Newmont Mining closed at $54.83, $1.66, or 3.12 percent.

Goldcorp (GG) and Inflation, Rising Costs Challenges

Goldcorp (NYSE:GG) and other gold miners have been getting the attention of some who are worried over the possible negative impact rising inflation and mining costs and how they what the impact on the mining companies will be.

The massive gold miner looks strong in reference to that, as looking at earneings 57 cents a share in the fourth quarter with production reaching 689,600 ounces of gold at total cash cost of $164 an ounce. Minus metal bi-products, Goldcorp's cash costs were $461 an ounce. Goldcorp also realized record production from three of its mines, as well as the first full quarter of production at its newer Penasquito mine.

Margins at Goldcorp also reached record levels for the company, mostly on the record high gold prices and record operating cash flows of $646.1 million, $1.7 billion for all of 2010.

Goldcorp boosted its annual dividend to 40 cents share, an 11 percent increase.

Like with its peers, inflation shouldn't be a worry to them as investors seek a safe haven to protect their assets, with gold among the favorite targets.

Barrick (ABX) and Inflation, Rising Costs, Guidance

Barrick Gold (NYSE:ABX) and other miners have been garnering the attention of some who are concerned over the impact rising inflation and costs will have on the companies in light of their guidance.

The giant gold miner looks solid in that regard, as based on revenue topping $2.95 billion and gold production reached 1.7 million ounces at cash costs of $486 an ounce, or $326 an ounce if you include sales of byproduct metals. Barrick said it should produce from 7.6 million to 8 million ounces of gold in 2011 at cash costs from $450 to $480 an ounce. Cash costs will be up in 2011 over 2010 because of rising raw material costs and lower grade gold at some of the mines the company works.

But with Barrick generating 95 cents a share in the last quarter, a big boost of 55 percent over the same quarter last year, while also declaring a 12-cent dividend, it appears they're confident they can continue to generate healthy profits in a tough environment.

As for inflation, that should help all the gold mining companies, and investors flock to gold to protect against rising inflation, which should help drive up the price of gold.

Gold Prices Today Roar Back, Pushing Past $1,400

It's been a while since gold has made a move, but with the drop of the U.S. dollar today reminding investors of the precarious situation the economy is in and misguided policies of the Federal Reserve being the major culprit, gold prices today have soared past the $1,400 an ounce mark.

Strong Christmas sales also could be part of the story, as it appears there may have been less need to discount, which would have helped prices, but also reminding investors of the inflation beast waiting out there.

As of 12:00 PM EST, spot gold was up $20.90, reaching $14.05 an ounce. We'll see if there is the typical sell-off after noon as traders take some quick profits.

Gold for February delivery soared $18.30 to $1,400.70 an ounce at the Comex division of the New York Mercantile Exchange.

Gold Prices Today Rise on Bernanke's QE Increase Talk

Early in the trading session gold prices surged on the comments made by Federal Reserve chairman Ben Bernanke that he was open to increasing the $600 billion the central bank has already committed to injecting into the economy.

The already-applied $1.7 trillion has done nothing to create jobs, so it's hard to know why Bernanke would institute an even larger amount of money to waste and throw away, while ultimately created a huge increase in inflation.

Gold prices have pulled back right after noon, as usual, when prices skyrocket quickly, as traders and speculators take advantage of the quick jump.

Long term though, every time Bernanke asserts he's going to increase the money supply, it's good news for gold investors, as it's a prelude, over the long term, for gold prices to continue to soar, which they will for some time.

Gold prices went slightly negative after traders sold, with spot gold down to $1,414.40 an ounce, dropping $0.10 as of 1:30 PM EDT.

Gold Prices Bursting or Correcting?

The usual speculation when any asset class makes a wide swing is part of gold now, as gold prices are in the midst of a huge downward move, and has generated questions on whether or not gold is correcting or it's in the middle of a bubble bursting.

Anyone familiar with gold for a long period of time knows this is nothing more than a correction, as the elements surrounding a bubble haven't yet emerged, and gold prices have a long way to go before they run their course, although it is a good lesson in what factors will eventually bring gold prices back to earth.

One of the major things ultimately stopping the rise of gold prices will be measures put in place to combat inflation: increasing interest rates.

That alone won't completely stop it if other major factors are driving gold prices up, but it would definitely slow it down, and if implemented in most, if not all, major economies, could have a dramatic effect.

That isn't going to happen any time soon though, as the U.S. isn't even close to thinking of raising interest rates in the current economic climate.

Even if China is to increase interest rates like South Korea did on Monday, that won't be enough to pull down gold in the long term, even though it would push gold prices down immediately and give the appearance of a bubble bursting.

Another thing driving gold prices down down, in conjunction with interest rate concerns, is the temporary strengthening of the U.S. dollar. That's all related to the weakened euro because of the renewed focus on the European sovereign debt crisis, which continues to stubbornly hang on.

After the EU bluffs its way through that or throws a bailout bone to Ireland, that will be considered taken care of, even though as Greece had shown yesterday, as it appears there is still corruption in the process, as Greece said they had underestimated the size of their deficit.

Greece isn't exactly so big that working out how big of a deficit they have should be that difficult. They're obviously understating things in hopes of stealing more money from the region to support their socialist practices via unsustainable entitlement programs.

In the end, there hasn't been much that has changed to justify the typical ignorant conclusions, and wishful thinking by some, that gold has ended its historical run. It isn't even close to being the case.

The U.S. dollar will continue its collapse in light of the inflationary policies of the Federal Reserve, the euro isn't considered that important any longer by the international community, physical demand for gold continues to rise, and of course, it's still the best place for safety in the turbulent economic times we live in, which are far from turning around at all.

What may happen in the near term with gold is it'll be much more volatile than usual until the decisions - by Asian countries in particular - as to raising their interest rates to combat inflation come about.

That appears to be priced already into the fall in gold prices, although I think the China factor will be the most devastating impact in the near term.

Once that's over with, gold will resume its assent with little in the way to stop it.

Gold Prices Today: How Low Will They Go?

We are definitely in the midst of the long-anticipated gold price correction, as gold prices today have plummeted in futures and spot gold.

Gold for December delivery was falling by $31.60 to $1,333.90 an ounce at the Comex division of the New York Mercantile Exchange. Spot gold was down by $26.40 to $1,334.10 an ounce.

With some Asian countries thought to be poised to raise interest rates, concerns it could expand to a number of countries has gold investors on edge.

Today South Korea raised their interest rates, which has been the impetus behind the quick drop in the price of gold.

The U.S. dollar index was also up, rising by $0.79, to reach $79.14. The euro continues its plunge against the U.S. dollar, going down to $1.35 against the greenback.

Even though China was the country most believed would raise their interest rates first, the Bank of Korea did it first, raising rates 25 basis points to 2.50 percent. All of this was precipitated by the consumer price index of China rising to 4.4 percent, which was higher than expected, generating the interest rate speculation and probability.

Rising interest rates work to rein in inflation, which is one of the key purposes of holding gold. The more countries raise interest rates, the more possibility gold prices will continue to have downward pressure on them; at least for the short term.

While inflation is one of the factors, there are many other support mechanisms in place for gold prices, and once the euro/U.S. dollar reverse direction, we'll probably see gold do the same, although announcements from other Asian countries they're going to raise interest rates will cause a more volatile gold market.

Gold Standard Should be Considered Again Says World Bank President

In what can only be a nod toward the true weakness to the global economy, World Bank president Robert Zoellick said major economies should considered reinstating a form of the gold standard again.

In an editorial in the Financial Times, Zoellick said countries should look at floating currencies, with gold used s a means of measuring the exchange rates.

Zoellick said what he's thinking is the new system would "likely to need to involve the dollar, the euro, the yen, the pound and (a Chinese yuan) that moves toward internationalization and then an open capital account.

"The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values."

As expected, there wasn't a positive response to the idea from those responsible for policy, as it would undermine their ability to spend in any way they choose to, which has led to the economic global crisis we face today.

In other words, a true gold standard would force austerity and politicians to spend within certain parameters. That would mean they can't buy votes from the clueless electorate who don't understand what's going on.

All honest people are acknowledging the problem as described by Zoellick, but aren't willing to take the steps needed to curb the out of control spending the socialist leaders and countries have been participating in for decades, and which has finally caught up with them.

As Margaret Thatcher said in the past, the problem with socialism is you eventually run out of other people's money. That time has happened, and just lowering spending to deal with the current circumstances isn't near enough to take care of it. A band-aide will never do.

Competing currencies and a gold, and possibly other precious metal standard, which could include silver or other metals, would go a long way toward dealing with politicians that continue to break into the future piggy bank of our children and grandchildren, which we no longer are able to afford.

Gold Prices Today Blow Past $1,400

For the first time spot gold prices today have soared past the $1,400 an ounce mark as economic conditions and economic decisions by the government and Federal Reserve continue to feed the gold price beast, which isn't going to change for some time.

The latest is of course the decision by the Federal Reserve to print another $600 billion to acquire government bonds over the next 6 months.

That will push up inflation, which Fed chairman Ben Bernanke has said is part of his goal. Interest rates will also be held where they are, helping to support goal, along with other elements.

Also a factor is the falling price of the U.S. dollar, which is largely the consequence of U.S. monetary policy as well, which will continue top plummet as more and more money is printed.

Even though called "quantitative easing," that's just a new description of the old phrase of printing money, or inflating. It's just being used by the Federal Reserve in an attempt to cover over the consequences of what happens when they implement these policies and actions.

There will continue to be corrections on the way for gold prices, but there is little, if anything, to stand in the way of it continuing its upward run, even if a correction ends up being a major one at some time.

Gold prices had reached over $1,402 so far today.

Gold and U.S. Dollar Decouple Again

Occasionally the economic forces come into alignment and gold and the U.S. dollar abandon their usual inverse relationship and decouple.

In other words, as gold skyrocketed in price recently, the U.S. dollar rose in value as well. That means the support for gold prices rising, which is based upon the quantitative easing, or inflating, by the Federal Reserve recently, when it announced it would pump another $600 billion into the economy over the next eight months or so.

Depending on whether or not the economy responds, which it didn't in the first round of QE, the Federal Reserve is poised to offer another round after that if they need to.

That will continue to offer support to gold prices as long as the implementation and outlook is quantitative easing will continue on.

with the inevitable increase of inflation coming from the actions of the Fed, that will also push the price of gold to higher levels as well.

The bottom line is gold is looking so strong now and going forward, that it can at time overcome the usual inverse relationship with the U.S. dollar, which to me is one more indicator of its price durability.

Of course the U.S. dollar will continue on its loss of value, even if it does occasionally get a bump up in value.

Kinross (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Harmony (NYSE:HMY) Explode Upward on Rising Gold Prices

Kinross Gold Corp (NYSE:KGC), AngloGold Ashanti (NYSE:AU), Harmony Gold Mining (NYSE:HMY) are moving up in a major way in response to the explosion in gold prices and the overall response of the broader gold market.

All of this is the result of the misguided move by the Federal Reserve to inflate, or as they like to describe it now: implement a new round of "quantitative easing."

Consequently the U.S. dollar plummeted in value as expected while the price of gold rose, also as expected.

Kinross moved up to $18.64, gaining $0.83, or 4.66 percent at 1:56 PM EDT. AngloGold Ashanti Ltd. traded at $48.95, rising by $2.36, or 5.07 percent. Harmony Gold soared to $12.24, increasing by $0.83, or 7.27 percent.

Almost every gold miner, or mining company with significant exposure to gold have risen today.