NEW YORK (TheStreet) -- Shares of Gold Fields Ltd. (GFI) are lower by 3.68% to $4.19 in early afternoon trading on Wednesday, as gold mining stocks decline along with the price of gold.
Gold is down today following reports the Swiss are in favor of a "no" vote, on a referendum that would force the Swiss National Bank to hold a minimum of 20% of its reserves in gold, the Wall Street Journal reports.
The initiative has the support of 38% of the Swiss voters, while 47% are against the referendum, which is set for November 30, the Journal added.
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Gold for December delivery was down 1.6% or $19 at $1,178.10 per troy ounce on Wednesday morning, the Journal noted.
Other gold mining stocks falling today include Harmony Gold Mining (HMY) , lower by 9.09% to $1.70, AngloGold Ashanti Ltd. (AU) , down by 8.57% to $9.39, and B2Gold Corp. (BTG) , falling by 7.22% to $1.80 this afternoon.
Separately, TheStreet Ratings team rates GOLD FIELDS LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: