Gold Prices Surge to 11-Month High -- ETF's Holdings of Gold Bullion Reaches Record 2,554 Tons
08 Octubre 2012 - 7:20AM
Marketwired
Gold Prices last week reached a 11-month high of $1,796.50 an ounce
after comments by European Central Bank President Mario Draghi
suggested that more bailouts may be forthcoming. Draghi had stated
that euro is "irreversible," and that the central bank stood
prepared to purchase the bonds of indebted countries. The Paragon
Report examines investing opportunities in the Gold Industry and
provides equity research on Brigus Gold Corp. (NYSE: BRD) (TSX:
BRD) and Rubicon Minerals Corp. (NYSE: RBY).
Access to the full company reports can be found at:
www.ParagonReport.com/BRD
www.ParagonReport.com/RBY
"We expect fears towards the fiscal outlook will likely
intensify during the fourth quarter along with the possibility of a
U.S. credit downgrade event. This will prove to be most beneficial
to the precious metals complex and specifically gold, in our view,"
Deutsche Bank analysts said in a report.
Commerzbank analysts noted that exchange-traded funds have
recently increased their holdings of physical gold. ETF's holdings
of bullion on Wednesday reached a record of 2,554 tons, an increase
of 164 tons since the end of July Commerzbank reported.
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 is a high quality emerging mid-tier gold producer
with projects in Ontario and Saskatchewan. The company recently
reported a total of 480,850 indicated ounces on the Grey Fox
property of the Black Fox Complex. "We have increased the Indicated
gold resource at Grey Fox from 116,710 to 480,850 ounces. This is a
material increase in the Company's total Indicated resource and
adds substantial value to the Black Fox Complex," said Howard Bird,
Brigus Gold's Senior Vice President of Exploration.
Rubicon Minerals Corporation is an exploration and development
company, focused on developing its flagship Phoenix Gold Project in
Red Lake, Ontario. The Phoenix Gold Project is a high-grade gold
deposit located in a jurisdiction with low political risk. The
project is fully permitted and Rubicon is fully funded to develop
the project.
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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