NEW YORK, NY--(Marketwire - Feb 11, 2013) - Gold's appeal as a safe haven increased earlier this month after the nation's gross domestic product unexpectedly shrank in the fourth quarter. "Gold is reasserting itself as a flight to quality asset," said Adam Klopfenstein, senior market strategist with Archer Financial. Five Star Equities examines the outlook for companies in the Gold Industry and provides equity research on Aurizon Mines Ltd. (
The Commerce Department reported GDP declined at an annual rate of 0.1 percent in the fourth quarter, which was the first contraction in 3 and 1/2 years. Gold prices surged 1.1 percent, its largest gain in over 3 weeks, to settle at $1,681.60 an ounce after the announcement. Gold prices have increased for 12 consecutive years after posting an increase of 6 percent in 2012.
"The investment case for gold looks robust, with recent action by governments indicating that real interest rates are likely to remain negative in 2013, and the risk of inflation has increased. In addition, the behavior of central banks suggests gold purchases look set to continue as diversification of currency exposure remains a key focus," said Evy Hambro, the manager of the BlackRock Gold & General fund, in a recent interview with the Telegraph.
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Aurizon is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most favorable mining jurisdictions and prolific gold and base metal regions. The company's Board of Directors has unanimously recommended shareholders reject the take-over bid received from Alamos Gold.
Brigus Gold is a high quality emerging mid-tier gold producer with projects in Ontario and Saskatchewan. The company's Black Fox mine located near Timmins, Ontario is currently producing gold and is on track to reach steady state production levels of 90,000 - 100,000 gold ounces in 2013. Brigus Gold reported record production levels of 22,672 gold ounces in the fourth quarter of 2012.
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