SOURCE: Paragon Financial Limited

Paragon Financial Limited

June 22, 2012 08:20 ET

Gold Miners Surge Despite Floundering Gold Prices

The Paragon Report Provides Stock Research on Paramount Gold and Silver and Rubicon Minerals

NEW YORK, NY--(Marketwire - Jun 22, 2012) - Despite floundering gold prices gold stocks have rallied sharply over the last month. The Market Vectors Gold Miners ETF (GDX) has rebounded 15 percent in the last month, while the SPDR Gold Trust ETF (GLD), which seeks to reflect the performance of the price of gold bullion, has gained just 1.5 percent. The Paragon Report examines investing opportunities in the Gold Industry and provides equity research on Paramount Gold and Silver Corp. (NYSE MKT: PZG) (NYSE Amex: PZG) and Rubicon Minerals Corp. (NYSE MKT: RBY) (NYSE Amex: RBY) (TSX: RMX.TO).

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Gold miners have benefitted from falling oil prices, as lower oil prices positively impacts mining costs. "Our best guess as to why gold stocks have reverted to tracking gold again is the underperformance of oil. Oil prices, one of the largest inputs to mining, have been falling, while gold prices have remained stable," stated Ned Davis Research's John LaForge and Warren Pies.

On another note, China's demand for gold hasn't slowed down after a strong first quarter. According to data collected from Commerzbank gold imports from Hong Kong in April saw a 65 percent increase from the month prior. At the end of April China had imported more than 50 percent of the previous year's import volume says Commerzbank.

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 and get exclusive access to our numerous stock reports and industry newsletters.

Paramount Gold and Silver is a U.S. based exploration and development company with fast-growing, multi-million ounce, advanced-stage precious metals projects within the mining-friendly jurisdictions of Nevada and northern Mexico. Paramount recently announced an updated mineral resource estimate for their San Miguel project is expected to be released in August, 2012. Shares of the company are up nearly 8 percent in the last month.

Rubicon Minerals is an exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district which hosts Goldcorp's high-grade, world class Red Lake Mine. Shares of the company have surged over 17 percent in the last month.

Paragon Report 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. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: