Gold Holds Its Gains

In the gold patch, the Market Vectors Gold Miners ETF (GDX Quote) was lifting in line with the broader indices, up 0.8% recently, while the Dow Jones Industrial Average was gaining 79.39 points at 12,273.52, ahead by 0.65%.

Elsewhere, shares of Eldorado Gold (EGO Quote) were rallying 3.1%, while those of Freeport-McMoRan Copper & Gold (FCX Quote) were losing 0.7%.

In base metals, March-dated Comex copper contracts were unchanged at $3.176 a pound.

In the ferrous sector, shares of iron ore miner Companhia Vale do Rio Doce (RIO Quote) were rallying 2.7% after a report in The Wall Street Journal that prices for iron ore could rise up to 10% in 2007, following a close to 20% spike this year.