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Gold Hits New High

Oct 06, 2009 (MarketNewsVideo.com via COMTEX) -- By MarketNewsVideo.com

Companies: Barrick Gold Corp. (ABX), Jaguar Mining Inc (JAG), Jaguar Mining Inc (JAG), Yamana Gold Inc (AUY), Yamana Gold Inc (YRI)

Overnight, the Austrailian Central Bank raised interest rates in a surprise move signaling the global economy is recovering. On the news, the US dollar dipped sharply overnight and gold bugs rejoiced, sending the yellow metal to a new all-time high of $1043 per ounce in morning trading.

On the equity side of things, gold mining stocks are rallying hard, with Yamana Gold (AUY) gaining more than nine percent, Jaguar Mining (JAG) showing gains in excess of ten percent and Barrick Gold (ABX) gaining five and a half percent.

The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200910Gold100609&mv=1. 

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News Provided by COMTEX

Companies: Barrick Gold Corp. (ABX), Jaguar Mining Inc (JAG), Jaguar Mining Inc (JAG), Yamana Gold Inc (AUY), Yamana Gold Inc (YRI)


Related terms: dollar, economy, gold, interest rates, mining, video

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