Gold Purchases From Central Banks Rise Sharply in 2012

Five Star Equities Provides Stock Research on Kinross Gold and New Gold

NEW YORK, NY -- (Marketwire) -- 03/27/13 -- Gold mining stocks have largely underperformed gold prices over the past few years. Gold prices fell below $1,600 an ounce Tuesday as strong U.S. economic data and news of Cyprus' bailout deal tarnished the metals safe haven appeal to investors. The SPDR Gold Trust ETF (GLD) has fallen roughly 4.5 percent year-to-date, while the Market Vectors Gold Miners ETF (GDX) has fallen roughly 20 percent over the same period. Five Star Equities examines the outlook for companies in the Gold Industry and provides equity research on Kinross Gold Corporation (NYSE: KGC) (TSX: K) and New Gold Inc. (NYSE: NGD) (TSX: NGD).


Access to the full company reports can be found at:

www.FiveStarEquities.com/KGC

www.FiveStarEquities.com/NGD


"Investors are not really looking for safe havens at the moment," Eugen Weinberg, head of Commodities research at Commerzbank, said to Reuters. "Gold as inflation protection should get more demand from investors in the second half of the year. Right now, the market participants are looking for more yield and they're finding it in other asset classes like equities."

While investment demand for gold has slid, purchases from central banks have experienced a steady rise. Gold purchases from central banks in 2012 totaled 534.6 tons, a 48-year high. Official gold reserves of global central banks have surged from $2 trillion in 2000 to over $12 trillion last year, according to a report issued by the World Gold Council.

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At Kinross, their strong operating results are driven by a focused portfolio of nine mines located in four key regions: South America, North America, West Africa and Russia. Since 2005, the company's total gold resources have increased by approximately 221 percent. Kinross reported a net loss of $2,548.8 million for the full year 2012, compared to a net loss of $2,093.4 million a year ago.

The combination of the Mesquite Mine in the United States, the Cerro San Pedro Mine in Mexico, the Peak Mines in Australia and the New Afton Mine in Canada position New Gold as one of the lowest cost producers in the industry. In 2013, the company is forecasting between 440,000 and 480,000 ounces of gold production. Shares of New Gold have fallen roughly 17 percent year-to-date.

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