Market Analysis: GOLD 2/4/2014

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Gold is Making a Comeback!

The value of gold increased by $25 yesterday to close at $1256 an ounce. This dramatic increase has a lot to do with reports from from Randgolds West Africa Mining company. They say that this year gold production will increase by 30%!

They are expecting this amount of growth due to higher purity gold being mined at the Loulo-Gounkoto mining complex in Mali. Rangold posted a profit of $278 million for 2013. This is down from 2012's profit of $431 million. Basic earnings were $3.02 per share, down from the previous years $4.70. Still this execeded analysist predictions of $2.83 per share.

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