Gold Producers Boost Production to Capitalize on Record Prices
The Bedford Report Provides Equity Research on Yamana Gold & Golden Star Resources
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/15/11 -- Gold prices edged close to record highs this week after the US government's credit rating was placed on review. Gold is widely considered an alternative currency and continues to benefit from fresh buying interest as investors scrutinize the future of the dollar. Investors have also sought out Gold producers, many of which have posted record profits during the latest gold rush. The Bedford Report examines the outlook for the Gold Market and provides equity research on Yamana Gold, Inc. (NYSE: AUY) & Golden Star Resources, Ltd. (NYSE Amex: GSS) (TSX: GSC). Access to the full company reports can be found at:
Strong physical demand for gold from India has also helped support gold prices even when investor demand has tailed off. A recent report from the World Gold Council (WGC) titled 'India: Heart of Gold' argues that Gold demand in India will continue to be robust in the next decade. The report estimates that cumulative annual demand will be in excess of 1,200 tonnes by 2020, registering a growth of 33 per cent. Presently India accounts for 32 percent of the global jewellery and investment demand. "Demand for gold will be driven by savings and growing income levels," said Ian Tefler, chairman of WGC.
The Bedford Report releases investment research on the Gold Market 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 and get exclusive access to our numerous analyst reports and industry newsletters.
The uptick in demand for gold could also benefit producers, many of which are boosting production as gold hits all-time highs. Yamana Gold boosted production by 11 percent to 267,368 gold equivalent ounces in the most recent quarter. The company posted first quarter earnings of $148 million, or 20 cents a share, up from $132 million, or 18 cents a share, a year earlier.
Golden Star Resources has also boosted production of late. Tom Mair, President and CEO of Golden Star Resources, said the company "saw an increase in gold production from the fourth quarter of 2010 to the first quarter of this year."
The Bedford Report 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. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 15.07.2011 - 12:16 Uhr
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News-ID 35026
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