Gold Mining Stock Rebound While Gold Prices Continue to Struggle
22 Juin 2012 - 2:20PM
Marketwired
Despite floundering gold prices gold stocks have rallied sharply
over the last month. The Market Vectors Gold Miners ETF (GDX) has
rebounded 15 percent in the last month, while the SPDR Gold Trust
ETF (GLD), which seeks to reflect the performance of the price of
gold bullion, has gained just 1.5 percent. The Paragon Report
examines investing opportunities in the Gold Industry and provides
equity research on Great Basin Gold Ltd. (NYSE MKT: GBG) (NYSE
Amex: GBG) (TSX: GBG) and Goldcorp Inc. (NYSE: GG) (TSX: G).
Access to the full company reports can be found at:
www.ParagonReport.com/GBG
www.ParagonReport.com/GG
Gold miners have benefitted from falling oil prices, as lower
oil prices positively impacts mining costs. "Our best guess as to
why gold stocks have reverted to tracking gold again is the
underperformance of oil. Oil prices, one of the largest inputs to
mining, have been falling, while gold prices have remained stable,"
stated Ned Davis Research's John LaForge and Warren Pies.
On another note, China's demand for gold hasn't slowed down
after a strong first quarter. According to data collected from
Commerzbank gold imports from Hong Kong in April saw a 65 percent
increase from the month prior. At the end of April China had
imported more than 50 percent of the previous year's import volume
says Commerzbank.
Paragon Report releases regular market updates on the Gold
Industry so investors can stay ahead of the crowd and make the best
investment decisions to maximize their returns. Take a few minutes
to register with us free at www.ParagonReport.com and get exclusive
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Great Basin Gold Limited is an international mining company with
two emerging mines in the world's richest gold regions: the
Hollister Mine on the Carlin Trend in Nevada and the Burnstone Mine
in the Witwatersrand Basin, South Africa. Shares of the company
have soared over 44 percent in the last month.
Goldcorp is one of the world's fastest growing senior gold
producers, with operations and development projects located in safe
jurisdictions throughout the Americas. The company's operating
assets include five mines in Canada and the U.S., three mines in
Mexico, and two in Central and South America. Shares of Goldcorp
have rebounded nearly 12 percent in the last month.
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Great Basin Gold, Ltd. (AMEX:GBG)
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