Gold Slump Unnerves Investors Amid Rating Threat: Canada Credit
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Investors are losing confidence Canadian gold miners will be able to weather the metal wallowing at a four-year low without damage to their credit ratings.
Canadians tied with Mexican issuers for the worst returns in October in a global index of metals, miners and steel companies, gaining 0.4 percent compared with an average 1 percent, according to Bank of America Merrill Lynch data. Barrick Gold Corp.’s 4.1 percent notes due May 2023 have fallen to $96, a decline of $3 since last week.