Gold miners under pressure from price falls
Gold mining stocks remained under pressure as the precious metal tumbled for a fifth consecutive day, touching its lowest level since February.DUST is the triple leveraged inverse gold miner ETF. It has been a big-albeit-risky winner.
Strategists with several investment banks said they expected gold prices to remain weak, despite a still depressed 10-year Treasury yield.
Shares of Newmont Mining fell as much as 2 per cent to $22.48 while Goldcorp declined 2 per cent to $22.91 and Barrick Gold slipped 1 per cent to $15.91.Gold prices were “intent on trading lower but in a very orderly fashion”, UBS strategist Edel Tully said....MORE
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