Gold for February delivery is gaining by 2.01% to $1,205.60 per ounce on the COMEX this morning.
Gold is rising today as the dollar weakens. The Wall Street Journal dollar index says the currency is lower by 0.63%.
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Concerns regarding the outcome of the Greek election and tensions between Russia and the West also contributed to the rise in gold, CNBC.com reports.
Additionally, New Gold may also be getting a boost from Monday's announcement that the shareholders of Bayfield Ventures Corp. (BYVVF) have voted in favor of New Gold acquiring all of Bayfield's assets, including 100% interest in three mineral properties.
Bayfield has applied to the Supreme Court of British Columbia, where the company is based, in order to obtain final court approval. The hearing is expected to take place on December 30, and the deal is anticipated to become effective on or around January 1, New Gold said.
Separately, TheStreet Ratings team rates NEW GOLD INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: