SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Feb 5, 2013) - Gold's appeal as a safe haven increased Wednesday as nation's gross domestic product unexpectedly shrank in the fourth quarter. "Gold is reasserting itself as a flight to quality asset," said Adam Klopfenstein, senior market strategist with Archer Financial. Five Star Equities examines the outlook for companies in the Gold Industry and provides equity research on IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) and New Gold Inc. (NYSE: NGD) (TSX: NGD).
Access to the full company reports can be found at:
The Commerce Department reported GDP declined at an annual rate of 0.1 percent in the fourth quarter, which was the first contraction in 3 and 1/2 years. Gold prices surged 1.1 percent, its largest gain in over 3 weeks, to settle at $1,681.60 an ounce last Wednesday. Gold prices posted its 12th consecutive year of gains with an increase of 6 percent in 2012.
"The investment case for gold looks robust, with recent action by governments indicating that real interest rates are likely to remain negative in 2013, and the risk of inflation has increased. In addition, the behavior of central banks suggests gold purchases look set to continue as diversification of currency exposure remains a key focus," said Evy Hambro, the manager of the BlackRock Gold & General fund, in a recent interview with the Telegraph.
Five Star Equities 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 www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
IAMGOLD is a leading mid-tier gold producer with five operating gold mines (including current joint ventures) on three continents. The company's growth plans are strategically focused in certain regions in Canada, select countries in South America and Africa. The company reported gold production of 214,000 attributable ounces for the fourth quarter of 2012.
New Gold has a portfolio of four producing assets and two significant development projects. The company's New Afton project met its targeted June 2012 production start and began commercial production ahead of schedule in July 2012. New Gold is forecasting between 405,000 and 445,000 ounces of gold production in 2012. The company is scheduled to release its fourth quarter results on February 27th.
Five Star Equities 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. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: