NEW YORK, NY--(Marketwire -02/21/12)- Gold stocks have been on a tremendous run in 2012 with precious metals demand showing no signs of slowing. The Market Vectors Gold Miners ETF (GDX) is up more than five percent this year, while the Market Vectors Junior Gold Miners ETF (GDXJ) is performing even better -- up more than 12 percent in 2012. The Paragon Report examines the outlook for companies in the Gold industry and provides equity research on Yamana Gold Inc. (NYSE: AUY - News) (TSX: YRI.TO - News) and AuRico Gold Inc. (NYSE: AUQ - News) (TSX: AUQ - News). Access to the full company reports can be found at:
Earlier this month the World Gold Council (WGC) said in its quarterly Gold Demand Trends report that gold demand hit 14-year highs in 2011, driven by record investment and buying in China, which could overtake India in 2012 as the world's top consumer. Total demand for gold in China in 2011 rose 20 percent to 769.8 tons, driven by jewelry and investment demand, compared with a 7 percent fall in demand in India to 933.4 tons as a result of volatile gold prices and a weak rupee.
Meanwhile gold mine output reached a new annual record of 2,809.5 tons last year, marking a 4 percent rise on 2010, while recycling fell 2 percent on the year to 1,611.9 tons.
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The WGC reported that the gold producer hedge book increased for the first time in a decade last year, with 18 tons of hedging added to the estimated outstanding global hedge book of 158.0 tons. "2011 was noteworthy for being the first year of net producer hedging since 1999. However, absolute levels of hedging remain insignificant and are likely to fluctuate around zero over the year ahead," the WGC said.
AuRico Gold Inc. engages in the exploration, development, and production of gold and silver mines and projects in Mexico. The company was formerly known as Gammon Gold, Inc. and changed its name to AuRico Gold Inc. in June, 2011. Earlier this month the company reported that production would double year-on-year in 2012 to between 540,000 and 600,000 gold equivalent ounces -- thanks to its C$1.46-billion October acquisition of Northgate Minerals.
Yamana Gold Inc. engages in gold and other precious metals mining, and related activities, including exploration, extraction, processing, and reclamation.
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