Gold shares moved higher on Friday amid a modest decline in the U.S. dollar and
a broad-based rally on Wall Street. The AMEX Gold Bugs Index (HUI) comprised of
many of the worlds largest gold producers rose 0.8% to 560.46 in mid-day
trading. Gold futures posted considerably smaller gains than gold equities,
however, as the COMEX February 2012 contract inched higher by just $3.10, or
0.2% to $1,716.50 per ounce. One of the top performing gold stocks in the HUI
was IAMGOLD (IAG), which jumped 2.2% to $19.26 per share after the
Canadian-based company announced a 25% increase in its annual dividend to $0.25
from $0.20 per share.
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