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Gold miners slammed (GLD, NEM, AUY, KGC, FCX, GDX, ABX)

Akin Oyedele
Posted on 7/20/2015, 8:00 PM

Gold mining stocks got slammed on Monday.

Gold flash-crashed on Sunday night, with the spot price tanking 3.8%, or $43 per ounce in a few seconds.

China reportedly sold one-fifth of a day's trade within two minutes.

And in trading on Monday, gold mining stocks felt the pain. 

Here are a few of the big decliners:

  • Barrick Gold, the world's largest miner of the metal, fell as much as 15% to a 25-year low. 
  • Newmont Mining, one of the largest gold producers, fell 12% to 18.16, the lowest in seven months. It was the biggest loser on the S&P 500.
  • Kinross Gold Corporation fell 12% to around $1.67 per share – an all-time low.
  • Yamana Gold fell 11% to the weakest in a decade.
  • Freeport-McMoRan, a producer of gold and copper, fell 5%.

The Gold Miners ETF fell 10%, and the SPDR Gold Shares ETF fell more than 2%.

Near 4:30 p.m. in New York on Monday, gold was down more than 3% to trade at a five-year low of about $1097.

Here's a chart showing the slump in some of the gold mining shares:

Screen Shot 2015 07 20 at 4.31.11 PM copy

Gold mining stocks listed in London also fell sharply, as Business Insider's Oscar Williams-Grut reported.

And here is gold's wild ride over the past 10 years or so.


See Also:

SEE ALSO: Here's the S&P 500 ... priced in gold

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