Gold Stocks Rally as Gold Prices Rebound on Hopes of Aggressive Stimulus Measures
July 04 2012 - 8:20AM
Marketwired
Gold stocks rallied sharply Tuesday as gold prices rose to two-week
highs on hopes that global central banks would take action to help
spur economic growth. On Tuesday both the Market Vectors Junior
Gold Miners ETF (GDXJ) and the Market Vectors Gold Miners ETF (GDX)
increased 5.07 percent and 3.78 percent, respectively. Five Star
Equities examines the outlook for companies in the Gold Industry
and provides equity research on Gold Fields Ltd. (NYSE: GFI) and
Yamana Gold Inc. (NYSE: AUY) (TSX: YRI).
Access to the full company reports can be found at:
www.FiveStarEquities.com/GFI
www.FiveStarEquities.com/AUY
Analysts at Commerzbank in a recent note to clients stated that
European Central Banks is expected to cut interest rates later this
week to help ease the region's debt crisis, while China is expected
to reduce their banks' minimum reserve-requirement ratios
analysts.
Further easing from the Federal Reserve may be a possibility
after U.S. manufacturing in June shrank for the first time in
almost three years. "Over the last few weeks U.S. numbers have
worsened a lot and this has brought about the probability of QE3 --
which is probably the most important reason for the market to
believe in gold," said Eugen Weinberg a Commerzbank analyst.
Five Star Equities 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.FiveStarEquities.com and get
exclusive access to our numerous stock reports and industry
newsletters.
Gold Fields is one of the world's largest unhedged producers of
gold with attributable annualised production of 3.5 million gold
equivalent ounces from eight operating mines in Australia, Ghana,
Peru and South Africa. The company recently reported that their
entire KDC mine has been shut down after a fire broke out.
Yamana Gold recently reported that they have acquired Extorre
Gold Mines Ltd for roughly $395 million. Extorre is a mining
company with exploration and development stage precious metals
projects, the most advanced of which is its Cerro Moro project, a
high grade, gold and silver deposit with approximately 1.36 million
ounces of gold equivalent indicated mineral resources and 1.05
million ounces of gold equivalent inferred mineral resources,
located in the province of Santa Cruz in Argentina.
Five Star Equities provides Market Research focused on equities
that offer growth opportunities, value, and strong potential
return. We strive to provide the most up-to-date market activities.
We constantly create research reports and newsletters for our
members. Five Star Equities has not been compensated by any of the
above-mentioned companies. We act as an independent research portal
and are aware that all investment entails inherent risks. Please
view the full disclaimer at:
www.FiveStarEquities.com/disclaimer
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contact: Five Star Equities Email Contact
Gold Fields (NYSE:GFI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Gold Fields (NYSE:GFI)
Historical Stock Chart
From Aug 2023 to Aug 2024