SOURCE: Paragon Financial Limited

Paragon Financial Limited

September 07, 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 New Gold and Yamana Gold

NEW YORK, NY--(Marketwire - Sep 7, 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 12 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 New Gold Inc. (NYSE MKT: NGD) (TSX: NGD) and Yamana Gold Inc. (NYSE: AUY) (TSX: YRI).

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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.

New Gold is an intermediate gold mining company. The company has a portfolio of four producing assets and two significant development projects. New Gold is forecasting between 405,000 and 445,000 ounces of gold production in 2012. Shares of the company have gained over 13 percent in the last month.

Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Colombia. The company last month completed the acquisition of Extorre Gold. "We will be evaluating a plan for a 2015 start-up that targets a production level at or above 200,000 ounces of gold equivalent per year. This would represent an increase in production of more than 10% and additional growth in cash flow and earnings," commented Peter Marrone, Chairman and CEO.

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