NEW YORK, NY -- (Marketwire) -- 08/29/12 -- While the price of gold has faced several headwinds of late, several analysts are optimistic gold could make a run in the second half of 2012 due to the ongoing accommodative monetary policies across the globe. A recent survey from Bloomberg shows that gold could be set for its best year since 2010. The Paragon Report examines investing opportunities in the Gold Industry and provides equity research on AuRico Gold Inc. (NYSE: AUQ) (TSX: AUQ) and Kinross Gold Corporation (NYSE: KGC) (TSX: K).
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Gold prices could reach as high as $1,800 an ounce but the end of the year according to the median forecast of 15 traders and analysts surveyed by Bloomberg at a recent conference. The 15 percent gain would be the largest since gold prices surged 30 percent in 2010. Gold is positioned for its 12th consecutive year of gains as potential economic stimulus from governments around the globe boost investment demand for the precious metal.
"The euro zone has been quiet of late, but that doesn't mean the problems have disappeared," said Jeffrey Rhodes, global head of precious metals at INTL FCStone Inc. "The U.S. economy has been sluggish and there is a growing belief that there is going to be QE3 soon. This anticipation is driving the market."
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AuRico Gold is a leading Canadian gold producer with a diversified portfolio of three high quality mines and projects in North America that have significant production growth and exploration potential. The company reported consolidated production of 55,828 gold ounces and 1.1 million silver ounces for the second quarter of 2012.
Kinross is a Canadian-based gold mining company with mines and projects in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania, Russia and United States. The company recently reported it that it has arranged a new $1.0 billion term loan, and increased their unsecured revolving credit facility from $1.2 billion to $1.5 billion.
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