Gold Miners' Stocks Plunge To New Lows

The Market Vectors Gold Miners ETF crashed to the lowest price in its more-than-nine-year history, with all 39 of its stock components falling more than 3% on Monday, as gold prices extended their tumble to multiyear lows. The GDX, down 6.9% in midday trade on volume that is already more than the full-day average, has now lost 19% so far this month, and 27% over the past three months. Among some of the GDX's most heavily-weighted U.S.-listed components, shares of Goldcorp Inc. shed 7.7%, Newmont Mining Corp. dropped 8.8%, Barrick Gold Corp. plunged 10% and Agnico Eagle Mines slid 7.2%. Each of those stock have lost at least 15% this month, paced by Barrick's 26% tumble. Meanwhile, the SPDR Gold ETF slumped 2.1% Monday, amid continued disappointment over China's gold reserve data and concerns over a rising dollar, to the lowest price since March 2005.