Gold Makes It Two Up Days In a Row

Gold didn’t do much today, just moved sideways, so to speak. It started the day going down but managed to get back to near its starting point on increased optimism that Greece will actually get a second bailout. It also helped that there were several encouraging economic reports from the U.S. about unemployment, manufacturing and housing.

There was also some bargain-hunting among investors who want to get in before gold moves higher. So far this year, the yellow metal has picked up 10 percent and many investment banks expect it to go higher. Shares of gold miners in late afternoon trading did well today. And some did amazingly well. In that latter category are Kinross Gold, up 7.6 percent, and Agnico-Eagle Mines, up 6.8 percent. Other big gainers were Goldcorp, up 4.6 percent, and New Gold, which rose 3.3 percent.