Gold Is Tanking And Mining Stocks Sinking

Gold has continued its fall this afternoon after yesterday’s hawkish comments in the Federal Open Markets Committee minutes. 

Contracts for June delivery declined 3.3 per cent this morning, trading at $1,617.20 per troy ounce on the COMEX.

Mining company Freeport McMoRan followed the overall market sell-off, down 2.3 per cent today to $37.75. Vale is off 2.1 per cent to $22.97 in New York and Newmont Mining is 4.1 per cent lower, to $48.30.

Below, gold trading following the release of the Fed’s minutes.

Chart

Photo: Finviz

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