AuRico Gold Inc.

Auguries — Seeing Red
Kevin Michael Grace
Seeing Red

Gold was up (at press time) $81.70 (+4.9%) for the week to $1,739.30, and silver was up $3.25 (+10.7%) to $30.48. According to GoldCore, “Gold rose in anticipation of the ECB embarking on another money-printing exercise with a potentially unlimited bond-buying program.”

Reuters reports, “Gold shot up 2% on Friday for the second time in two weeks, hitting six-month highs…. Spot gold bolted up by $30 an ounce just after the US Labor Department reported that nonfarm payrolls rose 96,000 last month, well short of expectations for a 125,000 rise…. ‘Gold is going through the roof because this negative data makes QE3 more likely now,’ said Daniel Briesemann, commodities analyst at Commerzbank in Frankfurt.”

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