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Gold Posts Largest Gain in Over Three Week as the Nation's GDP Drops Unexpectedly in the Fourth Quarter
Five Star Equities Provides Stock Research on NovaGold Resources and Rubicon Minerals
By: Marketwired .
Feb. 1, 2013 08:20 AM
NEW YORK, NY -- (Marketwire) -- 02/01/13 -- Gold's appeal as a safe haven increased Wednesday as nation's gross domestic product unexpectedly shrank in the fourth quarter. "Gold is reasserting itself as a flight to quality asset," said Adam Klopfenstein, senior market strategist with Archer Financial. Five Star Equities examines the outlook for companies in the Gold Industry and provides equity research on NovaGold Resources Inc. (NYSE: NG) (TSX: NG) and Rubicon Minerals Corp. (NYSE: RBY) (TSX: RMX).
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The Commerce Department reported GDP declined at an annual rate of 0.1 percent in the fourth quarter, which was the first contraction in 3 and 1/2 years. Gold prices surged 1.1 percent, its largest gain in over 3 weeks, to settle at $1,681.60 an ounce Wednesday. Gold prices posted its 12th consecutive year of gains with an increase of 6 percent in 2012.
"The investment case for gold looks robust, with recent action by governments indicating that real interest rates are likely to remain negative in 2013, and the risk of inflation has increased. In addition, the behavior of central banks suggests gold purchases look set to continue as diversification of currency exposure remains a key focus," said Evy Hambro, the manager of the BlackRock Gold & General fund, in a recent interview with the Telegraph.
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.
NOVAGOLD is a well-financed precious metals company engaged in the exploration and development of mineral properties in North America. With approximately 39 million ounces of gold in the Measured and Indicated resource categories, the company's 50%-owned Donlin Gold is regarded to be one of the largest and most prospective known gold deposits in the world.
Rubicon is well funded and its flagship Phoenix Gold Project is fully permitted to potential production. The company plans to complete and release the summary of its updated mineral resource at the end of the first quarter of this year. The report will include data from over 100,000 m of core drilling since late 2011.
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:
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