Ivanhoe (IVN) (IAG) (NG) Jump on Record Gold Prices

As the price of gold rockets toward $1,500 an ounce, shares of gold miners are riding the wave as well, with Ivanhoe (NYSE:IVN), Iamgold (NYSE:IAG), Novagold (AMEX:NG) all trading in positive territory today.

The price of gold today has taken off, soaring as high as $1,473 an ounce, reaching another all-time high.

So far this week the price of gold has jumped 3.1 percent, as the U.S. dollar continue to collapse and investors look to tangible assets to invest their money.

Silver also made a significant move today, surpassing the $40 an ounce mark, another 31-year high for the commodity as well. Silver has risen about 6.3 percent this week.

Iamgold was trading at $23.18, gaining $0.24, or 1.05 percent, as of 12:17 AM EDT. Novagold was trading at $13.98, up $0.58, or 4.33 percent. Ivanhoe was trading at $28.28, rising $0.25, or 0.89 percent.

Gold Price Today Soaring Toward $1,500 an Ounce

The price of gold today has taken off, rising at high as $1,473 an ounce, reaching another all-time high, a phrase we'll hear again and again going forward.

So far this week the price of gold has jumped 3.1 percent, as the U.S. dollar continue to collapse and investors look to tangible assets to place their money.

Silver also made a significant milestone today, surpassing the $40 an ounce mark, another 31-year high for the commodity as well. Silver has gained about 6.3 percent this week.

Barrick Gold (NYSE:ABX) was trading at $54.70, gaining $0.93, or 1.73 percent, as of 11:34 AM EDT. Newmont Mining (NYSE:NEM) was at $58.59, up $0.30, or 0.51 percent. Goldcorp (NYSE:GG) was trading at $54.41, rising $1.22, or 2.29 percent. Eldorado Gold was at $17.86, increasing $0.65, or 3.78 percent.

SPDR Gold Trust (GLD) Hits Record High

SPDR Gold Trust (NYSEArca:GLD) soared to over $140 as gold bullion closed at $1438 after soaring to $1442, and will continue to rise as investors attempt to protect themselves. Silver actually hit a new 35-year peak at $37.19, and getting closer to the $40-$50 goal we set last fall.

Gold is no longer just a hedge against QE2 and inflation– or a hedge against deflation. Or a hedge against a declining dollar. Today, gold has become an expression of the instability spreading from Tunisia to Egypt to Libya to Syria, to Yemen, to Saudi Arabia, to Iran, to Bahrain– and those street dissensions to come, conceivably in Kuwait, UAE, and elsewhere. Oil supplies are threatened. Buy gold and silver.

You don’t believe? Look at a chart of gold against silver. They are moving in absolute tandem now. Any Sheikh trying to preserve his fortune must own gold and silver.

In the US the price of GLD, the largest gold ETF, hit a peak of $140 and looks set to breakthrough that mark tomorrow or the next day. Let’s see if net selling turns into net buying.

SPDR Gold Trust closed Wednesday at $140.34, rising $1.29, or 0.93 percent.




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Goldcorp (GG) Among Top Gold Equities

Goldcorp's (NYSE:GG) strategy of expanding mining projects by acquiring contiguous deposits is working well for them, and not only extends the life of their mining facilities, but allows them to do it somewhat cheaply, as they can use the existing infrastructure they have in place.

The long-term value of bringing Penasquito into production will also enhance the company over time.

Strong cash flows are also empowering the company to offer profits back to shareholders in the way of dividends, which have more than doubled over the last 12 months.

With global conditions offering support once again to gold prices, it appears Goldcorp could be poised for a breakout, and the investment window may be short to get in at a good price.

Goldcorp closed Monday at $48.18, gaining $0.91, or 1.93 percent.

Goldman (GS) Sees Gold Price Peak in 2012

Over the next three months, investment bank Goldman Sachs (NYSE:GS) said they see the price of gold rising to about $1,480 and jumping to about $1,690 over the next 12 months.

After that the giant bank said they see interest rates in the U.S. kicking in around that time, which should put downward pressure on prices.

Goldman said in a note, "Given the decline in U.S. real interest rates, we see the recent retracement in gold prices as offering a good buying opportunity, and maintain our long gold trading recommendation as we expect gold to rally to our three-month price target of $1,480 an ounce."

For the next 6 months Goldman sees gold prices rising to $1,565 an ounce.

"Optimism over the state of the global economic recovery at the start of the year, which drove U.S. real interest rates sharply higher, has been tempered by the ongoing events in the Middle East and North Africa and Japan...setting the stage for the next gold price rally," Goldman concluded.

Gold Prices Today Soar to Record $1,435.60 An Ounce

Gold is back as continuing unrest in Libya has caused investors once again to seek safety in the yellow metal, as gold prices today rose to a record $1,435.60 an ounce.

Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said, “The continued violence in the Middle East is bringing in new buyers and spurring gold to new territory. The rush to economic health is fading. Crude above $100 is an energy tax that will force governments to put more money into the system. Our old fear of stagflation returns.”

Gold futures for April delivery climbed to an all-time high after the close of trading on the Comex in New York. The metal had settled up $21.30, or 1.5 percent, at $1.431.20 at 1:49 p.m. The former intraday record high was $1,432.50 on December 7.

Gold for immediate delivery jumped as much as 1.7 percent to a record $1,434.93. The gold price increased 1.6 percent to $1,434.27 at 4:01 PM EST.

Spot gold was up to $1,433.80 an ounce at markets closed, a gain of $22.60.

Gold, Silver Prices Today Rise to 30-Year High on Unrest in Middle East

Ongoing unrest in the middle east is causing investors to push up the price of gold and silver today, with silver reaching a 30-year high, and palladium also rising to its highest levels in 10 years.

Physical demand for gold in the middle east has been skyrocketing, increasing 39 percent in the fourth quarter, according to World Gold Council, as locals in the region see the potential for instability for some time ahead.

Gold for immediate delivery climbed $2.85, or 0.2 percent, to $1,386.95 an ounce by 8:50 AM in London. Gold futures for April delivery jumped $2.20, or 0.2 percent, to $1,387.30 an ounce on the Comex in New York.

Silver climbed as much as 0.6 percent to $31.9775 an ounce, the highest since March 7, 1980, and palladium rose 0.5 percent to $848.88 an ounce, the highest level since Feb. 28, 2001.

Barrick Gold (NYSE:ABX), Kinross Gold (NYSE:KGC), Newmont Mining (NYSE:NEM), Harmony Gold (NYSE:HMY) All Up as Gold, Silver Rises

Barrick Gold (NYSE:ABX), Kinross Gold (NYSE:KGC), Newmont Mining (NYSE:NEM) and Harmony Gold (NYSE:HMY) all finished positive on Tuesday, as the price of gold and silver rose.

While in a normal market an increase in interest rates from an important country like China would result in the price of gold and silver to fall, that wasn't the case Tuesday, as inflation continues to rise and economic growth remains anemic.

Even with China's increase in interest rates, they continue to operate in a negative interest rate environment, one reason the market shrugged off the event.

Harmony Gold closed Tuesday at $11.24, gaining $0.18, or 1.63 percent. Newmont Mining closed at $58.27, gaining $1.12, or 1.96 percent. Barrick Gold closed at $48.69, up $0.86, or 1.80 percent. Kinross Gold closed at $17.18, gaining $0.36, or 2.14 percent.

NovaGold (AMEX:NG) Soars as Spot Gold Jumps

If NovaGold Resources (AMEX:NG) could be thought of as a short-term bellwether in the mining sector, their performance Wednesday shows the pent-up demand waiting for gold miners, as gold investors wait on the sidelines ready for an excuse to pounce again with gold prices start moving up.

NovaGold finished Wednesday just shy of a 7 percent gain, rising $0.90, or 6.99 percent. Spot gold prices were up over $13 an ounce on the day, and rising after hours.

This doesn't mean it's necessarily time to get back into gold mining stocks, or gold in general, it just points out the fact that tension is building in the market and any excuse to pour back into gold should give it another huge push upwards in price, benefiting a large number of companies with significant exposure to the yellow metal.

Even so, as far as NovaGold goes, that doesn't even count their heavy exposure to copper, which many think will go up in price even more than gold in 2011, although in a much more volatile performance, as silver usually reacts.

Gold Prices Today, Silver, Ending Year with a Roar

Gold will finish another year in positive ground, as gold prices today soared on the ongoing story of the weak U.S. dollar and other weak world currencies.

With quantitative easing in the U.S. ramping up again heading into 2011, that will continue to pressure the dollar and when banks really start lending again, will result in major inflation.

The sovereign debt crisis in Europe continues to weigh on the global economy, which has actually helped the U.S. dollar as the euro falls every time focus from the financial press zeros in on the extraordinary threat looming there.

Silver also continues to move up in percentage against gold, as investors migrate there as an alternative investment to gold as gold prices continue to rise.

This will be the tenth straight annual gain for gold, and that string shouldn't end over the next couple of years, and definitely won't in 2011.

Gold futures for February delivery rose to $1,418.60 an ounce on the Comex in New York as of 12:07 PM EST. Spot gold climbed to $1,418.70, up $14.60.

Silver futures for March delivery increased by 37.7 cents, or 1.2 percent, to $30.89 an ounce. Spot silver was trading at $30.90, up 0.44.

Gold and Silver Companies today:

Barrick Gold (NYSE:ABX) was trading at $53.22, up $0.62, or 1.18 percent, as of 12:42 PM EST.

Goldcorp (NYSE:GG) was at $45.89, up $0.61, or 1.35 percent.

Newmont Mining (NYSE:NEM) was at $61.57, gaining $0.49, or 0.80 percent.

Eldorado Gold (NYSE:EGO) was up to $18.67, rising by $0.13, or 0.70 percent.

Gammon Gold (NYSE:GRS) was trading at $8.23, up $0.27, or 3.39 percent.

Silver Companies

Silver Wheaton (NYSE:SLW) was trading at $39.13, up $1.26, or 3.33 percent.

Mag Silver (AMEX:MVG) was at $12.45, up $0.07, or 0.57 percent.

Hecla Mining (NYSE:HL) was at $11.35, gaining $0.22, or 1.98 percent.

Pan American Silver (Nasdaq:PAAS) rose to $41.57, increasing by $0.58, or 1.41 percent.

Silver Standard Resources (Nasdaq:SSRI) was at $28.24, up $0.21, or 0.75 percent.

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 Blow Past $1,400

Gold prices today have been volatile, as they have been recently, with disparate pressures bringing mixed responses from investors who, in some cases, are uncertain of the economic realities moving gold prices.

Speculators are of course moving in and out of gold on the flimsiest of data coming out, as they always do, adding to the volatility, but the underlying fundamentals behind the rise in gold prices remain the same, and that isn't going to change any time soon.

Even though China's attempt to battle inflation has been one factor in suppressing of gold prices, they are on the other hand buying up large swaths of physical gold, creating demand at the same time they're taking actions which can result in downward pressure on gold prices.

Another temporary factor in gold prices is the alleged increase in Christmas sales, which the usual clueless economic reporting asserts is stronger economic growth. It's probably nothing more than people going deeper into debt.

The increase in retail sales and rise in the November Producer Price Index (PPI), has generated the question in some as to whether or not the quantitative easing from the Fed will be slowed down in response; an unlikely scenario, but one that was brought into the discussion.

As for spot gold prices, they have risen today to $1,402.90, up $8.40 as of 1:15 PM EDT.

Market Vectors Junior Gold Miners (NYSE:GDXJ) May Have Set Options Record

Options traded on Market Vectors Junior Gold Miners (NYSE:GDXJ) ETF may have reached record levels on Friday, as volatility has been the name of the game for small- and mid-cap mining stocks, and the Market Vectors Junior Gold Mine ETF tracks those companies.

Call options were the major focus of traders, according to derivatives strategists at Susquehanna Financial Group, bearish puts being extremely active above the norm.

It hasn't been confirmed as of this writing if the activity was indeed a record, but it seems to be when adding the numbers.

While some of the unusually high activity was attributable to volatility in general, as mentioned, there is also what is called a "delta neutral" play, which specifically targets the volatility of the ETF, which with the high number of trades, points to the probability investors believe that pattern will continue for now.

Much of this comes from disparate economic forces which are pushes from different directions, causing much of the uncertainty, and ultimately, volatility.

The highest amount of interest was in $50 calls due to expire in February 2011. That trade assumes Market Vectors Junior Gold Miner ETF won't break the $50 mark at that time, which would be in the middle of February.

Also highly active were $39 put options due to expire this week.

Market Vectors Junior Gold Mine closed Friday at $41.56, up $0.20, or 0.48 percent.

Barrick (NYSE:ABX) CEO Says No Gold Bubble Now

Barrick (NYSE:ABX) CEO was calming fears recently as gold has been going through a minor correction, which seems to always generate fears gold has entered a bubble phase, something Regent refutes.

He said at a recent conference that there is still a lot of room for gold prices to move up.

Being the largest producer of gold in the world is reason enough for Regent to say what he's saying, but it's not just marketing hype, he's correct.

He gave several elements that he would expect to happen if gold was in a bubble, probably the most important one what he identified as being "overowned."

Regent said, “A bubble is when an asset is overowned. And I don’t think you can suggest that gold is overowned.”

“If you take the value of the gold exchange-traded funds (ETFs) as a percentage of US money markets, the gold ETF [holding] is probably about one per cent.”

Another important gold bubble factor to look for in Regent's estimation is the volatility of the metal, which at this time he asserts isn't very much.

“When you look at bubbles, what is a bubble often characterised by? Well, it’s characterised by assets that have extreme volatility,” he added. “The volatility in gold right now is very modest."

Regent also cited comments made by World Bank president Robert Zoellick concerning the role of gold in relationship to global currencies, calling gold a reference point for paper money, or digits, if you prefer.

Fiat currencies are one of the major factors in the rise of the price of gold, although there are several other connected to the price movement as well.

Other macro concerns include the EU sovereign debt crisis, so-called quantitative easing, fate of the U.S. dollar, the economy, interest rates, the balance of trade, among others.

All of these contribute to the overall support under gold prices, and as you can see from all of them, they're not going to go away any time soon.

So with these fundamentals in place, a bubble isn't going to happen, no matter how far the price of gold goes; at least for a couple of years, and maybe longer.

The most obvious identifier will probably be when the man on the street starts to plow money into gold at extremely high prices, but not understanding why he's doing it. Then it may be time to run, but that's not in the cards in the near future.

Barrick says they're on target to produce from a range of 7.6 million to 7.85 million ounces of gold over the next year. In about five years expectations are production will reach about 9 million ounces annually by the mining giant.

Barrick Gold closed Friday at $53.30, down $0.08,or 0.15 percent.

Gold Prices Today Plunge on China Tightening Expectations

The volatility connected to gold prices continues as they fell again today, this time on worries over how far China will go to battle its inflation challenges. Gold prices today have plummeted on the concerns, with spot gold down by $17.40, to $1,383.70 an ounce as of 1:45 PM EST, according to Kitco.

Gold prices have become more volatile than usual because of competing economic events affecting it.

Along with China's inflation battle, there is the quantitative easing of the Federal Reserve, value of the U.S. dollar, the sovereign debt crisis in Europe, global economy and interest rates. All of which push against one another to influence gold prices.

When one dominates the news, the price of gold swings one way or the other in response. Investors are attempting to figure out which way the overall sector will go as the events unfold.

Commodities in general will continue to respond in a similar fashion, although you have the supply/demand element included with those that isn't as influential with the prices of gold.

None of this changes the longer term prospects for the price of gold, but it appears it'll be a jagged gold price ride on the upward journey.

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 Price Back on, Pushes Above $1,400 on Lower Payrolls

Gold prices today broke through the $1,400 barrier as news the jobless rate rose again and employers slowed hiring below even the lowest expectations.

Gold futures for delivery soared to $1,404, gaining $14.70 in response on the Comex in New York. Spot gold has risen to $1406.70, gaining $21.80 as of 12:00 PM EST.

The U.S. dollar fell back to its usual inverse relationship with gold today. With the problems with Europe's sovereign debt it has moved up in value along with the price of gold recently.

The jobless rate moved closed to 10 percent, raising to 9.8 percent, the highest level since April.

News that China has been buying up a lot more gold has also added some support to the price of the metal. They've already acquired five times more gold as of the end of October than they did all of 2009.

Quantitative easing, or inflating the money supply, remains the major impetus behind the rise in gold prices, along with the collapsing U.S. dollar and low interest rates.

Some thing interest rates won't be raised for another four years, including PIMCO's Bill Gross.

Exeter (AMEX:XRA), Gammon (NYSE:GRS), Nevsun (AMEX:NSU), Northgate Minerals (AMEX:NXG) Soar on China Gold Imports

Gold prices today were soaring before noon as news from the Shanghai Gold Exchange that China had acquired 209 metric tons of the yellow metal through October caused gold miners like Exeter (AMEX:XRA), Gammon (NYSE:GRS), Nevsun (AMEX:NSU) and Northgate Minerals (AMEX:NXG) soar in share price.

To contrast this, China only acquired 45 tons of gold for all of 2009, showing they are protecting their assets in the midst of a weak currency environment; particularly against inflation.

Gold fell down to earth after noon, as is a common event for the precious metal, which was closing in on $1,400 an ounce before plummeting.

No matter. Gold prices will continue to rise for some time, and are at this time looking for an excuse to make a big move again, although speculators will continue to make it a volatile ride on the way up.

Exeter was trading at $5.92, up by $0.37, or 6.67 percent as of 1:05 PM EST. Gammon was at $7.15, gaining $0.33, or 4.84 percent. Nevsun rose to $6.23, increasing $0.25, or 4.19 percent. Northgate was trading at $3.08, up $0.11, or 3.70 percent.

Gold Prices Today Closing in on $1,400

Gold prices today are pressing toward $1,400, after European Central Bank President Jean-Claude Trichet hinted the ECB may step up acquisitions of sovereign debt of nations continuing to struggle from out of control deficits and inability to pay for promises to their people they should have never made.

The U.S. dollar also reversed course today, helping shore up gold prices, as it moved back to its expected performance of falling in value against the euro.

This will continue to be a volatile situation, as there appears to be a hiding of the true depth of the sovereign debt crisis in Europe, and every time it is revealed that it is much worse than thought, the euro plunges, the U.S. dollar strengthens against it, and gold prices rise.

That will continue to happen until the situation is handled in Europe, if it even can be.

For gold, much of the quantitative easing news has been shoved aside as the sovereign debt crisis grabs headlines, but once investors price that into gold again, prices should continue to press up and easily surpass the $1,400 an ounce mark.

Eldorado (NYSE:EGO), Gammon (NYSE:GRS), Ivanhoe (NYSE:IVN) Push Up on Rising Gold Prices

Eldorado Gold (NYSE:EGO), Gammon Gold (NYSE:GRS) and Ivanhoe Mines (NYSE:IVN) are all in positive territory today, moving up with the broader gold market as investors flee to safety because of concerns over possible sovereign debt contagion in Europe.

The unusual event of the U.S. dollar moving up along with the price of gold is occuring again, as it had each time the fears concerning the sovereign debt crisis and uncertainty over the future of the euro are brought to the forefront recently.

As long as the story is headline news, that will probably be the case. The longer the narrative, the longer the two will move up together in general.

Eldorado Gold was trading at $17.43, rising by $0.52, or 3.08 percent as of 2:44 PM EST. Gammon was at $6.68, gaining $0.16, or 2.45 percent. Ivanhoe rose to $24.44, increasing by $0.25, or 1.03 percent.