US Stock Market Move | Spot gold and silver plummet! Stocks in the gold and silver sector experience a sharp decline.
On Tuesday, stocks related to the concept of gold and silver plummeted, with Gold Fields (GFI.US) falling nearly 13%.
On Tuesday, concept stocks related to gold and silver plummeted. Gold Fields Limited Sponsored ADR (GFI.US) dropped nearly 13%, AngloGold Ashanti (AU.US) fell over 13%, Kinross Gold Corporation (KGC.US) dropped over 10%, Agnico Eagle Mines Limited (AEM.US) and Newmont Mining Corporation (NEM.US) both fell nearly 9%; Silvercorp Metals (SVM.US) dropped nearly 12%, Pan American Silver Corp. (PAAS.US) fell over 10%, First Majestic Silver (AG.US) plummeted over 13%. In terms of news, spot gold and silver prices both experienced sharp declines, with spot gold falling below $5020 per ounce, a decrease of 5.73% for the day. Spot silver was at $79.99 per ounce, down 10.44% for the day.
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