In this paper we will discuss about the gold mining stock report for the year of 2007. The price of the dollar decreased and with that, the price of gold increased.The price of gold has been increasing for the last seven years, in fact it has almost tripled. The number of miners also increased. Many people are yet to realize that the precious metals, like gold and silver, is outperforming the general market.
The gold mining stock report is given below as of 13th December 2007.
The Federal Government had decided to decrease the fund rate by 50 basis points, which was larger than predicted, so the dollar index came down to a low margin.
Euro was trading over 1.40/dollar for the first time. For the first time over the last thirty years the Canadian currency reached parity against US Dollar.
The decline in the dollar price rose the public awareness. Therefore, the market of precious metal would enter into a new phase.
The Amex Gold Miners Index comprises 37 gold mining companies around the globe. It has been fluctuating over the last seven years. In 2000, it was at 180 whereas, in 2006 it was at 1266.
In July 2007, The Amex Gold Miners Index was at 1175 but in August, the figure was 890.
Last Updated on : 26th August 2013