Eldorado Gold (EGO) Flying High, Opalesque Sees Gold At $1300 (GLD, GG, AUY)

Eldorado Gold Corporation (AMEX: EGO) surged around 10% in Tuesday's trading session as gold topped $1.040 an ounce. Investors are scared of inflation and weakening of the dollar and are trying to find a shelter in gold.

One has to ask himself if this is sustainable. Many traders think that it actually is. CNBC's Fast Money Pete Najarian looked at options trading and he is not sure if this is a squeeze or not, but he sees some panic in price of gold. There are lot of calls on stocks like SPDR Gold Trust (ETF)(NYSE: GLD) and Yamana Gold Inc. (NYSE: UAY). Greg Troccoli of Opalesque thinks that gold could move $300 higher!!!

Well, if Greg Troccoli is right than Eldorado Gold Corporation (EGO) is a great stock to own. But there are some other choices like Kirkland Lake Gold (KGI), Newmont Mining Corp. (NYSE: NEM).