Gold-Mining Stocks Slump to Lowest in Decade on Bullion Rout
Why Is Gold Plunging?
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A gauge of the world’s biggest gold-mining companies fell to the lowest in at least a decade as a rout in the precious metal deepened.
The 15-member Bloomberg Intelligence Global Senior Gold Valuation Peers Index, which includes Barrick Gold Corp. and AngloGold Ashanti Ltd., dropped 9.2 percent to 16.96 at the close in New York, the lowest since it began in 2005. Spot gold declined 3.3 percent to $1,096.50 an ounce, the weakest closing price since March 2010.