US Gold Corp and Paramount Gold & Silver -- Undervalued and on the Rise
December 05 2011 - 8:16AM
Marketwired
Gold stocks are coming off a strong week after the US dollar fell
on news that 6 central banks, including the Federal Reserve, would
lend more dollars at cheaper prices. One of the most well-known
relationships in currency markets is the inverse relationship
between the US dollar and the value of gold. This relation occurs
because gold is typically used as a hedge against inflation through
its intrinsic metal value. The Bedford Report examines investing
opportunities in the Gold Industry and provides equity research on
US Gold Corporation (NYSE: UXG) (TSX: UXG) and Paramount Gold &
Silver Corporation (NYSE Amex: PZG) (TSX: PZG). Access to the full
company reports can be found at:
www.bedfordreport.com/UXG
www.bedfordreport.com/PZG
Last week Reuters reported that Zhang Bingnan, vice chairman of
the China Gold Association, said the unsustainable debt burdens of
both Europe and the United States would encourage them to print
more money, making gold more attractive. "Whether or not Europe and
the United States find a way out of their debt mess, there is one
thing for certain -- investors would now be more convinced than
ever that they need to have a larger portfolio in gold," Zhang
said.
Gold has climbed more than 20 percent year-to-date as investors
and central banks bought the metal as an alternative to stocks,
bonds and currencies.
The Bedford Report releases stock reports 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
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Even gold mining stocks are showing signs of strength in recent
weeks. Gold mining stocks have performed relatively poorly this
year in relation to the price of gold. Bloomberg reports that
valuations on gold mining stocks have fallen to their cheapest
level in nine years even though sector profits are projected to
nearly double this year and gold remains within striking distance
of its record highs.
Paramount Gold and Silver Corporation is a US-based exploration
and development company with multi-million ounce advanced stage
precious metals projects in Nevada (Sleeper) and northern Mexico
(San Miguel). Last week the company reported more high-grade gold
and silver results from 10 holes recently completed at its
100%-owned San Miguel Project.
US Gold Corporation explores for gold and silver in the Americas
and is advancing its El Gallo Project in Mexico and its Gold Bar
Project in Nevada towards production. Shares of the company
exploded last week after the company said it completed a
preliminary feasibility study (PFS) on its Gold Bar mining project.
The study indicates that the mine could potentially produce 51,000
ounces of gold annually over an eight-year period at cash costs of
$665 an ounce.
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