Gold Mining Stocks Have Been Getting Clobbered
Gold Rout Rages on for a 10th Day
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Gold’s slump to a five-year low this month is squeezing the world’s biggest producers of the precious metal, already struggling to rein in costs and pay down debt.
A rout in bullion has sapped investor confidence in gold miners, sending the benchmark 30-member Philadelphia Stock Exchange Gold and Silver Index of the largest producers to its lowest since 2001. A five-day losing streak through Monday wiped $19 billion off the index, which includes Barrick Gold Corp. and Newmont Mining Corp.