Gold Mining Stocks Get Their Skulls Cracked (GDX)
Tweet
Share
E-mail
Investors who have been hiding in gold mining stocks had their skulls cracked Thursday as Market Vectors Gold Miners ETF (NYSE: GDX) sold off 4.3 percent intra-day after testimony from Fed chairman Ben Bernanke failed to deliver on hopes for QE3.
Mining stocks have been the safe-haven du jour recently, popping whenever broader markets sold off, and descending whenever the S&P moved higher. This morning, with most sectors in the S&P flat, gold mining stocks are getting wrecked.
Barrick Gold Corporation (NYSE: ABX) shares are lower by nearly 5 percent and shares of Goldcorp Inc. (NYSE: GG) are 3.6 percent lower.
Mining stocks have been the safe-haven du jour recently, popping whenever broader markets sold off, and descending whenever the S&P moved higher. This morning, with most sectors in the S&P flat, gold mining stocks are getting wrecked.
Barrick Gold Corporation (NYSE: ABX) shares are lower by nearly 5 percent and shares of Goldcorp Inc. (NYSE: GG) are 3.6 percent lower.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank cuts gold outlook as Fed repricing weighs on prices
- Qatarenergy Is Ready To Resume Lng Production At Ras Laffan Very Quickly And Reach Full Production Within One Month - Source With Knowledge - Reuters
- US Authorizes Sales Of Some Iran Crude Oil Via Waiver - Bloomberg
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Ben S. Bernanke, Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
