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 Golden Star Resources Ltd. (NYSE: GSS) (TSX: GSC) and Harmony Gold Mining Co. (NYSE: HMY).
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.
Golden Star Resources holds the largest land package in one of the world's largest and most prolific gold producing regions. As a result of successful drilling programs, the company has decided to add an additional drilling rig to their Wassa drilling fleet, bringing the total to six rigs. "This new drilling strongly suggests that Wassa Main's overall average grade should increase and contained gold should grow significantly from where we are today." commented Sam Coetzer, President and CEO.
Harmony reported an operating profit of R1.6 billion (US$188 million) in the fourth quarter, an increase of 16 percent. Harmony has recently reported that they have made progress in their negotiations with their Kusasalethu employees and are "one step closer to finding a sustainable solution to re-opening Kusasalethu" mine.
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: