Gold miners "trading like junk"

Reports Bloomie:

[Gold mining companies]..."are trading as if they’ve lost their investment-grade ratings after the price of the metal plunged 28 percent this year to the lowest since August 2010.
Gold futures in New York yesterday dropped below $1,200 for the first time since August 2010, as signs of improving U.S. economic growth boosted speculation the Federal Reserve will wind down its asset-purchase program.
After rising to a record $1,923.70 an ounce in September 2011, gold futures for August delivery fell 1.6 percent to $1,192.20 at 8:47 a.m. today on the Comex in New York."

No comments:

Post a Comment