Newmont Goldcorp Corp (NGT)

[NYBob]

Gold leaps to new highs

The COMEX December gold futures contract closed up $24.60 Tuesday at $1271.70, trading between $1246.00 and $1276.50

September 14, p.m. excerpts:
(from Reuters) --
Gold surged more than 2% to a record, its biggest one-day gain in four
months, as investors sought a bastion of stability amid topsy-turvy
trade in other markets.
Equities see-sawed, the dollar sank, soft commodities jumped and
funds fled uncertainty.
Axel Merk, portfolio manager of Merk Mutual Funds, said gold's rise
was driven by renewed worries over reflation, with investors seeking
a hedge that would better hold its value as governments strive to
boost economic growth with future bailouts and deficit spending...

GOLD RISES, DOLLAR WEAKENS

The dollar sold off across the board, touching a 15-year low below
83 yen as a break of technical support in several pairs sparked
a stampede out of the U.S. currency.

U.S. equity markets were mostly mixed, but Treasury prices rallied
as a report showing sturdy consumer spending in August failed to
shift investors' expectations for a slowdown.

Gold could rally above $1,300 an ounce this year, setting successive
all-time highs, as uncertainty about economic recovery and a
sovereign debt crisis stoke investment interest, metals
consultancy GFMS Ltd said in a closely watched report.

Across the rest of the precious metals complex, silver traded at
its highest in 2-1/2 years, helped by robust Chinese industrial
output and firm base metals, though the safe-haven effect boosting
gold also served as a driving force.

Spot silver last fetched $20.45 an ounce, up from $20.02 the day
before and on course for its third consecutive day of gains.

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