Tuesday, July 24, 2012

Barrick Gold Better than ETFs

Gold miners continue to rise on the backs of the precious metal’s surge. Barrick Gold (ABX) is up 76 cents, or 1.8%, at $43.65 today, as gold futures price for gold for December is up $17 from Friday’s close at at $1,133.80. Kinross Gold (KGC) is doing better, up 75 cents, or 4%, at $19.94. The SPDR Gold Trust (GLD) trails, up $1.59, or 1.5%, at $111.32. In the last three months, as gold has risen from about $1,000 an ounce, Barrick is up 29% versus only 19% for the ETF. Both Barrick and Kinross trail some other miners, such as Newmount (NEM), up 2.6%, while Freeport-McMoran is up 3.3% at $84.28.

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