Gold mining stocks got slammed on Monday.
Gold flash-crashed on Sunday night, with the spot price tanking 3.8%, or $43 per ounce in a few seconds.
China reportedly sold one-fifth of a day's trade within two minutes.
And in trading on Monday, gold mining stocks felt the pain.
Here are a few of the big decliners:
- Barrick Gold, the world's largest miner of the metal, fell as much as 15% to a 25-year low.
- Newmont Mining, one of the largest gold producers, fell 12% to 18.16, the lowest in seven months. It was the biggest loser on the S&P 500.
- Kinross Gold Corporation fell 12% to around $1.67 per share – an all-time low.
- Yamana Gold fell 11% to the weakest in a decade.
- Freeport-McMoRan, a producer of gold and copper, fell 5%.
The Gold Miners ETF fell 10%, and the SPDR Gold Shares ETF fell more than 2%.
Near 4:30 p.m. in New York on Monday, gold was down more than 3% to trade at a five-year low of about $1097.
Here's a chart showing the slump in some of the gold mining shares:
Gold mining stocks listed in London also fell sharply, as Business Insider's Oscar Williams-Grut reported.
And here is gold's wild ride over the past 10 years or so.
- Gold crashed
- China just revealed how much gold it's been hoarding for the first time since 2009
- For the first time since August 2009, gold is cheap
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