Gold Futures Surge to 1 Month Highs on Optimism That the Upcoming "Fiscal Cliff" Can Be Avoided
22 Novembre 2012 - 2:20PM
Marketwired
Gold stocks surged Wednesday as gold futures gained nearly $20 an
ounce to settle at a 1-month high on optimism that lawmakers could
make a deal which would avoid the upcoming "fiscal cliff". The
Market Vectors Gold Miners ETF (GDX) spiked 1.5 percent Wednesday.
The Paragon Report examines investing opportunities in the Gold
Industry and provides equity research on Brigus Gold Corp. (NYSE:
BRD) (TSX: BRD) and Jaguar Mining Inc. (NYSE: JAG) (TSX: JAG).
Access to the full company reports can be found at:
www.ParagonReport.com/BRD
www.ParagonReport.com/JAG
The "fiscal cliff" is a combination of government spending cuts
and tax increases set to take effect at the beginning of 2013
unless lawmakers reach a compromise on a new budget deal. The
Treasury Department has recently reported that the October deficit,
which is the first month of the new fiscal year, grew 22 percent to
$120 billion. Gold historically has gained in times of economic
uncertainty as investors look to it as a safe haven.
"Unless there is a clear agreement between the Democrats and
Republicans on the solution to the so-called U.S. fiscal cliff, the
short-term direction is bullish for gold," said Chintan Karnani,
chief analyst at Insignia Consultants.
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
access to our numerous stock reports and industry newsletters.
Brigus Gold has reported a total of 480,850 indicated ounces on
the Grey Fox property of the Black Fox Complex. The company has
recently announced production in the third quarter totaled 19,526
ounces of gold, a 7 percent sequential increase, and a 16 percent
increase year-over-year. Brigus Gold earlier this month completed a
$10 million flow-through share financing.
Jaguar Mining is a gold producer in Brazil with operations in a
prolific greenstone belt in the state of Minas Gerais. Jaguar is
also engaged in developing the Gurupi Project in the state of
Maranhão. Jaguar sold 23,307 ounces of gold at an average realized
price of $1,648 per ounce in the third quarter compared to 41,390
ounces of gold at an average realized price of $1,692 per ounce in
the third quarter 2011.
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that all investment entails inherent risks. Please view the full
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