Reports – Gold Price at Highest Point for 17 Years - Gold Stocks Populate List

Published: Tue Sep 20 2005 Reports – Gold Price at Highest Point for 17 Years - Gold Stocks Populate List of Highest Gainers

Concerns regarding inflation, state of the US economy following Hurricane Katrina, deterioration of global currencies, and rocketing oil prices create volatility and drive investors towards increased gold holdings.

POINT ROBERTS, WA, Delta, B.C. September 19, 2005 – (GMS) reports that shares of gold mining companies rose sharply in late trading on Friday due to concerns regarding inflation, a deterioration of global currencies and ever increasing oil prices. GMS provides leading edge information and research regarding gold stocks, mining stocks, precious metals stocks, and mineral exploration/development. GMS also features a growing list of participating public and private companies.

Investors have shifted their combined focus towards the Gold sector and commodities in general subsequent to concerns in the financial markets, resulting in an increase in the price of gold ($461.95 bid per troy ounce on Monday morning), to its highest point since 1988. Shares of both major and smaller mining companies traded briskly on Friday, causing the AMEX Gold Miners Index to rise by 3.4%. Gold prices rose by 14% in the past year, 9.6% of that gain in the past two months.

Analysts said that the direction of Gold Mining Stocks may hinge on an announcement by the Federal Reserve (due this week) regarding interest rates. Since Hurricane Katrina struck, causing sky rocketing energy prices and fears of widespread inflation, Gold has become the refuge of choice for investors seeking insurance policies. A report by the World Gold Council stated that demand for gold bullion has increased by 14% (in tonnage terms) and 24% in monetary terms, in the second quarter of 2005 (compared to the same point in time last year)

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