OctaFX | OctaFX Forex Broker
Open trading account
Back

Gold miners in the US bleed

FXStreet (Mumbai) - The decline in the Gold prices that began from USD 1900/Oz few years ago has pushed the Gold mining companies’ share prices to decade lows.

The Gold mining stock was dumped heavily during the last week. Barrick is now at one-fifth of its peak value hit in 2011 and appears poised to hit the decade low in the days ahead. Goldcorp is down to one-half of its 2011 peak price, and currently trades at 2008 lows. Meanwhile, Newmont is trading below its 2008 lows, fast approaching the levels last since in 2002.

Given , that the yellow metal is still relatively overvalued to Silver and other commodities like Crude, a further weakness in Gold as well as Gold mining stocks is possible.

Hungary Trade Balance increased to €952.7M in September from previous €269.5M

Read more Previous

UK: Goods Trade deficit widens to £-9.400B in September

UK Goods Trade deficit widened to £-9.400B in September from £-8.950B in August, according to data released today by National Statistics. Analysts expected the deficit to widen to £-9.400B.
Read more Next
Start livechat