Gold Miners Plunge to 12-Year Low as Metal Drops
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Gold producers including industry leader Barrick Gold Corp. declined to multiyear lows as the precious metal plunged.
The 40-company Standard & Poor’s/TSX Global Gold Sector Index fell 4 percent to its lowest level since December 2001. Barrick, the world’s largest producer by sales, dropped 2.6 percent to C$13.39, the lowest closing price since October 1991 in Toronto, where the company is based. Kinross Gold Corp., Canada’s third-largest producer, tumbled 12 percent, while Yamana Gold Inc. declined 10 percent.