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Sector wrap: gold mining stocks declining

Posted on 2012-11-13, By A-Best Staff

The Associated Press reports gold mining shares fell with the price of the precious metal.

The price of gold fell $14.20 to $817.30 per troy ounce on the New York Mercantile Exchange.

John H. Hill , Citi Investment Research analyst wrote:

“Gold has arguably exited a period of strong investment demand, with profit-taking and seasonally-soft fabrication both working against gold.”

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