SOURCE: Paragon Financial Limited

Paragon Financial Limited

September 04, 2012 08:20 ET

Gold Prices at a Five-Month High -- Prices See Largest Monthly Gain in August Since January

The Paragon Report Provides Stock Research on Jaguar Mining and Great Basin Gold

NEW YORK, NY--(Marketwire - Sep 4, 2012) - Gold stocks have surged in the last month as prices for the precious metal have rallied sharply due to potential economic stimulus from central banks across the globe. The Market Vectors Gold Miners ETF (GDX) has gained over 14 percent in the last month. Gold prices have recently hit a five month high. Gold prices in August saw their largest monthly gain since January. The Paragon Report examines investing opportunities in the Gold Industry and provides equity research on Jaguar Mining Inc. (NYSE: JAG) (TSX: JAG) and Great Basin Gold Ltd. (NYSE: GBG) (TSX: GBG).

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Gold prices could reach as high as $1,800 an ounce by the end of the year according to the median forecast of 15 traders and analysts surveyed by Bloomberg at a recent conference. The 15 percent gain would be the largest since gold prices surged 30 percent in 2010. Gold is positioned for its 12th consecutive year of gains as potential economic stimulus from governments around the globe boost investment demand for the precious metal.

"Chairman Bernanke provided a clear case and justification for past and future endeavors of quantitative easing," said Global Hunter Securities analyst, Jeffrey Wright. "We think the door is wide open for more quantitative easing in 2012."

The 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.

Jaguar is a junior gold producer in Brazil with operations in a prolific greenstone belt in the state of Minas Gerais and is developing the Gurupi Project in Northern Brazil in the state of Maranhão. Jaguar sold 28,933 ounces of gold at an average realized price of $1,608 per ounce in the three months ended June 30, 2012 compared to 40,184 ounces of gold at an average realized price of $1,507 per ounce in the three months ended June 30, 2011.

Great Basin Gold is a mining company engaged in the exploration and development of gold properties. The Hollister gold mine is located on the Carlin Trend in Nevada, USA and the Burnstone gold mine, is located in the Witwatersrand goldfield of South Africa. For the quarter ended June 30, 2012 the company reported revenues fell 44 percent, when compared to the year ago quarter, to $32 million as a result of technical and infrastructure issues at both principal projects.

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