Gold for December delivery fell by $10, or 0.9% settling at $1,159.80 per ounce, MarketWatch reports.
On Friday, gold jumped by 2.4%, or $27.20 reaching $1,169.80 per troy ounce, spurred by October's jobs growth data, which was weaker than analysts expected, the Wall Street Journal reports.
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Gold prices have dropped over 7% since October 21, due to a budding dollar, and mild consumer price growth in the major economies of the world, the Journal added.
Other gold stocks slumping today include Barrick Gold Corp. (ABX) , lower by 6.66% to $11.35, Alamos Gold Inc. (AGI) , down by 6.73% to $6.93, and Kinross Gold Corp. (KGC) falling by 7% to $2.33 this afternoon.
Separately, TheStreet Ratings team rates NEWMONT MINING CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEWMONT MINING CORP (NEM) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."