SOURCE: Rothman Research

Rothman Research

March 09, 2010 09:11 ET

Gold Prices Begin to Pull Back

JOHANNESBURG, SOUTH AFRICA--(Marketwire - March 9, 2010) -

Gold futures turned lower Monday as traders who previously bought the metal in other currencies started exiting from those positions. That weakness spilled over into gold in dollar terms. Gold had been helped in recent sessions by buying of the metal by holders of other currencies, some on a flight to safety amid worries about debt-levels in Greece and other European nations. This had lifted gold even on some days when the dollar strengthened, which normally hurts gold prices. "Some selling came in on the gold against the euro cross," said Afshin Nabavi, head of trading at MKS. "The lack of follow-through on the upside brought in some long liquidation."

An in-depth report was done by leading research firm recently and found two companies of particular interest. Yamana Gold Inc. (NYSE: AUY) and Northgate Minerals Corp. (NYSE Amex: NXG).

*Free downloadable reports of these intensive research are available by signing up now at  or

The decline in gold prices may be an opportunity to buy, some analysts said. Dennis Gartman, an economist and editor of the Suffolk, Virginia-based Gartman Letter, who has advised holding gold in foreign currencies, told clients today they should start buying gold denominated in dollars.

Gold generally moves in the opposite direction of the dollar, hence the massive gold rush whenever the dollar tumbles. Last year, the metal rallied 24 percent while the dollar lost 4.2 percent against a basket of six major currencies.

*Rothman Research is a source for investors seeking free information on commodity stocks; investors are encouraged to sign up for free at

Yamana Gold Inc. is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Chile, Argentina, Mexico and Central America. On March 1st. the company announced the discovery of a new very high grade vein system at its El Penon mine in Chile. All amounts are expressed in United States Dollars unless otherwise indicated. El Penon, located in northern Chile, is one of Yamana's six core producing mines and has a proven track record of consistent low cost production and the replacement mineral reserves each year.

Northgate Minerals Corp. owns and operates the Kemess mine, a large open-pit gold and copper mining operation located in north-central British Columbia, approximately 300 kilometres northwest of Mackenzie. The company operates through four fully permitted operating mines which include Kemess South mine in North-Central British Columbia, the Fosterville mine situated in Bendigo, Stawell mine located in Victoria, Australia and the Young-Davidson property in Northern Ontario. The company operates its business through a network of offices located in Ontario and British Columbia in Canada and Victoria in Australia.

Visit to see how this company has grown over the past years.

To learn more about Yamana Gold Inc. and Northgate Minerals Corp., log on to for a free research report, to help you make the right decision.

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