Gold Stocks Fall Sharply Amid Steep Drop In Price Of Metal

New York (Nov 23)  Most of the major sectors have shown only modest moves during trading on Wednesday, although substantial weakness is visible among gold stocks. The NYSE Arca Gold Bugs Index is down by 5.4 percent after hitting a nearly eight-month intraday low.

The weakness among gold stocks comes amid a sharp drop by the price of the precious metal, with gold for December delivery tumbling $21.90 to $1,189.30 an ounce.

Source: RTTnews