$NG

Gold Futures Surged $4.60, Barrick Gold, AngloGold, Goldcorp, IAMGOLD, NovaGold, Allied Nevada, Kinross Gold, Harmony Gold, New Gold

On Tuesday gold futures tumbled in electronic trade, erasing most of the gains made in Monday’s trading, but still analysts are optimistic about gold prices for the week ahead.

For August delivery gold futures slightly up $4.60, or 0.4%, to $1,278.90 an ounce, after settling at $5.90 higher on Monday’s session on the New York Mercantile Exchange.

The analysts James Steel and Howard Wen at HSBC holdings said that the metal could make a move higher based on congressional testimony from Federal Reserve Chairman Ben Bernanke, scheduled for Wednesday and Thursday.

Most of the analysts at Wall Street have linked the Fed’s easy monetary policy to gold’s sharp gains since the global financial crash of 2008. HSBC’s analysts also cited a cut to production guidance at AngloGold Ashanti Limited (ADR) (NYSE:AU).

But HSBC’s analysts also said that gold prices are less sensitive to mine production cuts when compared to the platinum-group metals.

For September delivery silver slid 12 cents, or 0.6%, to $19.72 an ounce, while platinum for October delivery plunged -0.45%  fell $3.90, or 0.3%, to $1,417.50 an ounce.

It’s been observed that Gold has been a losing investment for months but in the last six days, the precious metals seems to have regained some of its lost luster, by surging 5.8%. Gold has gained its biggest weekly percentage gain since 2011 in last week, and it came after the four straight weeks of losses.

The managing director of American Precious Metals Advisors Jeff Nichols said, they’re in process of finding a bottom, since April, investors have sell off gold in favor of the stock market.

The price of gold is off sharply from the record highs of 2011, when it touched $1,900 an ounce. Despite its gains this past week, gold is still down about 24% since the beginning of the year. It’s currently changing hands in the futures market at $1,284 an ounce.

Among the gainers in gold miners includes Barrick Gold Corporation shares were up 0.80%. Goldcorp Inc. (USA) (NYSE:GG) shares surged 0.19%. IAMGOLD Corp (USA) (NYSE:IAG) shares edged up 0.46%. NovaGold Resources Inc. (USA) (NYSEMKT:NG) shares surged 6.90%. Allied Nevada Gold Corp. (NYSEMKT:ANV) shares went up 0.18%.

Among the losers in gold miners include, Kinross Gold Corporation (USA) (NYSE:KGC) shares were off -1.24%. Harmony Gold Mining Co. (ADR) (NYSE:HMY) shares fell -0.57%. New Gold Inc. (USA) (NYSEMKT:NGD) share slipped -1.34% AngloGold Ashanti Limited shares were up -2.43%.

It’s been reported that Chilean Court issues ruling on Pascua-Lama: must complete water management system, Barrick Gold Corporation (USA) (NYSE:ABX)  is committed to operating at the highest environmental standards at all of its operations around the world, including at Pascua-Lama, and is working diligently to meet all regulatory requirements at the project.

Stock of Barrick Gold Corporation (USA) (NYSE:ABX) advanced 0.80% in last trading session and is closed $ 14.94 with average volume 19.63 million shares, in After Hours trading ABX stock increase 0.13%. Barrick Gold Corporation generated income of $ -857.00 million in last twelve months and sales of $ 14.34 billion. Analytic Ratios; Price to sales ratio of ABX in past twelve months was calculated as 1.05 and price to cash ratio as 6.44. ABX return on equity ratio is recorded as 0.80% and its return on assets is 0.40%.

Stock of Kinross Gold Corporation (USA) (NYSE:KGC) fell -1.24% in last trading session and is closed 4.85 with average volume 11.90 million shares. Kinross Gold Corporation generated income of $ -2487.90 million in last twelve months and sales of $ 4.36 billion. Analytic Ratios; Price to sales ratio of KGC in past twelve months was calculated as 1.25 and price to cash ratio as 3.85. KGC return on equity ratio is recorded as -21.70% and its return on assets is -15.30%.

Stock of Goldcorp Inc. (USA) (NYSE:GG) advanced 0.19% in last trading session and is closed $ 25.71 with average volume 7.91 million shares, in After Hours trading GG stock fell -0.04%.  Goldcorp Inc generated income of $ 1.58 billion in last twelve months and sales of $ 5.10 billion. Analytic Ratios; Price to sales ratio of GG in past twelve months was calculated as 4.10 and price to cash ratio as 10.38. GG return on equity ratio is recorded as 7.00% and its return on assets is 5.10%.

Stock of IAMGOLD Corp (USA) (NYSE:IAG) advanced 0.46% in last trading session and is closed $ 4.33 with average volume 6.89 million shares, in After Hours trading IAG stock fell -0.92%. IAMGOLD Corp generated income of $ 226.40 million in last twelve months and sales of $ 1.57 billion. Analytic Ratios; Price to sales ratio of IAG in past twelve months was calculated as 1.04 and price to cash ratio as 2.15. IAG return on equity ratio is recorded as 6.10% and its return on assets is 4.50%.

Stock Eldorado Gold Corp (USA) (NYSE:EGO) advanced 0.15% in last trading session and is closed $ 6.48 with average 5.32 million shares. Eldorado Gold Corp generated income of $ 192.00 million in last twelve months and sales of $ 1.21 billion. Analytic Ratios; Price to sales ratio of EGO in past twelve months was calculated as 3.82 and price to cash ratio as 5.58. EGO return on equity ratio is recorded as 3.30% and its return on assets is 2.50%.

Stock of Harmony Gold Mining Co. (ADR) (NYSE:HMY) fell -0.57% in last trading session and is closed $ 3.49 with average volume 3.04 million shares, in After Hours trading HMY stock increase 2.02%. Harmony Gold Mining Co generated income of $ 86.00 million in last twelve months and sales of $ 1.93 billion. Analytic Ratios; Price to sales ratio of HMY in past twelve months was calculated as 0.78 and price to cash ratio as 4.50. HMY return on equity ratio is recorded as 3.50% and its return on assets is 2.80%.

Stock of New Gold Inc. (USA) (NYSEMKT:NGD) fell -1.34% in last trading session and is closed $ 6.70 with average volume 4.18 million shares.  New Gold Inc generated income of $ 201.80 million in last twelve months and sales of $ 824.30 million. Analytic Ratios; Price to sales ratio of NGD in past twelve months was calculated as 3.82 and price to cash ratio as 4.68. NGD return on equity ratio is recorded as 8.00% and its return on assets is 5.20%.

Stock of AngloGold Ashanti Limited (ADR) (NYSE:AU) fell -2.43% in last trading session and is closed $ 13.31 with average volume 3.62 million shares, in After Hours trading AU stock increase 0.16%. AngloGold Ashanti Limited generated income of $ 555.00 million in last twelve months and sales of 6.11 billion. Analytic Ratios; Price to sales ratio of AU in past twelve months was calculated as 0.79 and price to cash ratio as 7.08. AU return on equity ratio is recorded as 15.10% and its return on assets is 6.80%.

Stock of NovaGold Resources Inc. (USA) (NYSEMKT:NG) advanced 6.90% in last trading session and is closed $ 2.03 with average volume 1.83 million shares.  NovaGold Resources Inc generated income of $ -64.90 million in last twelve months. Analytic Ratios; Price to cash ratio of NG in past twelve months was calculated as 3.21. NG return on equity ratio is recorded as -13.30% and its return on assets is -10.10%.

Stock of Allied Nevada Gold Corp. (NYSEMKT:ANV) advanced 0.18% in last trading session and is closed $ 5.71 with average volume 3.37 million shares. Allied Nevada Gold Corp generated income of $ 44.50 million in last twelve months and sales of $ 224.50 million. Analytic Ratios; Price to sales ratio of ANV in past twelve months was calculated as 2.30 and price to cash ratio as 2.10. ANV return on equity ratio is recorded as 7.30% and its return on assets is 3.70%.