Gold miners have had a terrible year. As a barometer of sector health, the Market Vectors Gold Miners ETF (NYSEARCA:GDX) has declined 18.6% year to date, excluding dividend and over the past five years the ETF has declined 59.4%. And it seems as if things are only going to get worse for the sector as the price of gold collapses and costs continue to rise.
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Gold Miners: Barrick Gold's credit default swaps jump to 199 bps
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) the sector's largest player in terms of production, recently saw the price of its credit default swaps jump to 199 bps, close to a 2014 high of 206, making the company's debt the second...
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