by Karl Utermohlen | January 2, 2014 1:33 pm
IAG stock is up as gold futures jumped the most in three weeks amid speculation that demand for the precious metal will increase in Asia.
IAMGOLD (IAG) had a good morning with shares up 4.2% following a rough 2013 that saw IAG stock down close to 70%. 2013 was a rough year for gold as the precious metal dropped 28% which was the most since 1981 and the first drop since 2000. However, rising demand for gold in Asia has seen gold stocks go up in 2014.
Gold mining companies such as Barrick Gold (ABX) and Goldcorp (GG) are also soaring wish ABX stock up 3.6% and GG stock up 4.66%. NovaGold Resources (NGC), Newmont Mining (NEM) and Kinross Gold (KGC) all saw their shares go up with NGC stock up 4.5%, NEM stock up 11% and KGC stock up 2.3%.
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