India Jewelers End Shutdown Contributing to Spike Gold Demand
March 27 2012 - 8:20AM
Marketwired
Gold prices posted the biggest one-day rise so far this month on
Friday, reflecting higher oil prices and a sharp fall in the dollar
as a result of disappointing U.S. housing market data. Another
contributing factor was jewelry shops in India, the world's largest
buyer, ending a five-day shutdown Thursday. The Paragon Report
examines investing opportunities in the Gold industry and provides
equity research on Royal Gold, Inc. (NASDAQ: RGLD) and Vista Gold
Corp. (NYSE Amex: VGZ) (TSX: VGZ).
Access to full reports can be found at:
www.paragonreport.com/RGLD www.paragonreport.com/VGZ
Jewelers in India were protesting tax increases that their
government announced last week. There may be pent-up demand from
the closures, Edel Tully, an analyst at UBS AG in London, recently
wrote in a report. Rising fuel prices "create at least short-term
inflation pressures," Federal Reserve Chairman Ben S. Bernanke said
today during congressional testimony.
"We will see a rise in demand in the short term because of India
coming back to the market," said Frank McGhee, the head dealer at
Integrated Brokerage Services LLC in Chicago. "Bernanke's
statements were gold friendly."
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Industry so investors can stay ahead of the crowd and make the best
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Royal Gold, Inc. earlier this month announced that its Board of
Directors has declared its second quarter dividend of US$0.15 per
share of common stock. The dividend is payable on April 20, 2012 to
shareholders of record at the close of business on April 5, 2012.
The quarterly dividend of US$0.15 is also payable to holders of
exchangeable shares of RG Exchangeco. This dividend is designated
as an "eligible dividend" for Canadian tax purposes.
Vista Gold Corp. recently reported the initial results of the
current resource conversion drilling program at its Mt. Todd gold
project in Northern Territory, Australia, and provide an update on
the Company's development activities at the Mt. Todd gold project
as the definitive feasibility study nears completion. The Company
has decided to build a project development team in Australia and to
evaluate the potential for a larger project than contemplated in
the feasibility study.
Paragon Report provides Market Research focused on equities that
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strive to provide the most up-to-date market activities. We
constantly create research reports and newsletters for our members.
The Paragon Report has not been compensated by any of the
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and are aware that all investment entails inherent risks. Please
view the full disclaimer at: www.paragonreport.com/disclaimer
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