SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Sep 17, 2012) - Gold stocks have been on an impressive run as of late as prices for the precious metals have surged due to the potential of economic stimulus from central banks across the globe. Gold prices reached a 6-month high last Thursday after the Federal Reserve announced stimulus for the U.S. economy. The Market Vectors Gold Miners ETF (GDX) has gained nearly 20 percent in the last month. Five Star Equities examines the outlook for companies in the Gold Industry and provides equity research on NovaGold Resources Inc. (NYSE: NG) (TSX: NG) and Brigus Gold Corp. (NYSE: BRD) (TSX: BRD).
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Gold prices in August saw its largest monthly gain since January when gold prices rose by 15 percent after the Fed announced it would keep interest rates near zero till late 2014. The Federal Reserve announced on Thursday that it would purchase $40 billion of mortgage-backed securities a month, and would keep the benchmark interest rate low till at least mid-2015. "The price of gold will do very well in the years to come," said Axel Merk, Merk Funds chief investment officer.
According to a recent report from Thomson Reuters GFM, gold purchases from central banks in 2012 will total 493 metric tons, an increase of 7.9 percent. Central banks have expanded reserves to diversify from the dollar and protect themselves from a potential gain in inflation.
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NovaGold is focused on permitting and developing its 50%-owned flagship property, Donlin Gold, one of the world's largest known undeveloped gold deposits. Donlin Gold is jointly held with Barrick Gold, the world's largest gold company. The company recently announced that permitting has commenced on the property.
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The company recently reported a new high-grade gold discovery at their Grey Fox property. "This discovery has the potential to significantly increase the Company's gold resources," said Howard Bird, Senior Vice President Exploration.
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