South African Gold Miners Post Worst Three-Day Drop in 29 Months

South Africa’s gold mining index posted its biggest three-day retreat in almost 29 months in Johannesburg trading as gold tumbled to below $1,600 in its longest losing streak in more than four months.

The FTSE/JSE Africa Gold Mining Index declined 2 percent by the 5 p.m. close in Johannesburg, taking its losses for the past three days to 8.3 percent, the steepest since April 2009. AngloGold Ashanti Ltd., Africa’s biggest producer of the metal, dropped 1.6 percent. Gold Fields Ltd., the world’s fourth-biggest gold producer, slumped 2 percent.