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Miner stocks hurt by rout in Gold prices

FXStreet (Mumbai) - A sharp decline in the Gold prices witnessed in the last week led to a sharp sell-off in the miner stock prices in the US.

The top five gold miners fell almost 12% on average in the last two trading sessions of the previous week. Kinross Gold fell 20% last week and trades nearly 50% down in 2014. Meanwhile, Roxgold and Romarco Minerals were most notable among losers, down 27% and 22% respectively. Barrick and Goldcorp's share prices fell 7% and 12% respectively.

Moreover, the fall in some of the stocks was three times more than that of the fall in Gold prices, which indicates the sell-off may be overdone.

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