Gold Positioned for Its Best Year Since 2010 on Increased Hope for Economic Stimulus
August 30 2012 - 8:20AM
Marketwired
While the price of gold has faced several headwinds of late,
several analysts are optimistic gold could make a run in the second
half of 2012 due to the ongoing accommodative monetary policies
across the globe. A recent survey from Bloomberg shows that gold
could be set for its best year since 2010. The Paragon Report
examines investing opportunities in the Gold Industry and provides
equity research on Gold Fields Ltd. (NYSE: GFI) and Newmont Mining
Corp. (NYSE: NEM).
Access to the full company reports can be found at:
www.ParagonReport.com/GFI
www.ParagonReport.com/NEM
Gold prices could reach as high as $1,800 an ounce by the end of
the year, according to the median forecast of 15 traders and
analysts surveyed by Bloomberg at a recent conference. The 15
percent gain would be the largest since gold prices surged 30
percent in 2010. Gold is positioned for its 12th consecutive year
of gains as potential economic stimulus from governments around the
globe boost investment demand for the precious metal.
"The euro zone has been quiet of late, but that doesn't mean the
problems have disappeared," said Jeffrey Rhodes, global head of
precious metals at INTL FCStone Inc. "The U.S. economy has been
sluggish and there is a growing belief that there is going to be
QE3 soon. This anticipation is driving the market."
The 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.
Gold Fields is one of the world's largest un-hedged producers of
gold with attributable annualized production of 3.5 million gold
equivalent ounces from eight operating mines. The company reported
that that attributable group production for second quarter 2012 is
expected to be 862,000 gold equivalent ounces, which is 4 percent
higher than the first quarter.
As of December 31, 2011, Newmont had proven and probable gold
reserves of 98.8 million attributable ounces and an aggregate land
position of approximately 31,571 square miles (81,767 square
kilometers). The company announced a third quarter gold
price-linked dividend of $0.35 per share, up 17 percent from the
prior year quarter.
The Paragon Report has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
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