What $1,000 Gold Would Mean To Producers (ABX, NEM, GG)

October 10, 2008 | By Eugene Bukoveczky Amid all on the carnage on global financial markets, gold stands out as one of the few assets that has made money for investors. So far this year, the precious metal has gained over 8% in value, and at its current price of $918 an ounce, stands at a two-and-half month high. Having briefly thrust through the psychologically important $1,000 an ounce barrier last March, when the ongoing credit crisis first began to raise concerns about the stability of the U.S. financial system, gold subsequently fell back to a low of $740 in early September. However, the accelerating credit and financial market turmoil since then has breathed new life into bullion over the past month. With equity markets in free-fall mode, is the stage now set for a decisive penetration of the $1,000 barrier? (To learn... [read full story]