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Monday, June 21, 2010

Newmont (NYSE:NEM), Barrick (NYSE:ABX), Goldcorp (NYSE:GG) All Down As Investors Take Profits

In the morning it looked like gold may be performing a little differently after it broke all-time highs on two different days last week, but that changed later in the day as gold prices plummeted, and gold majors like Newmont Mining (NYSE:NEM), Barrick Gold (NYSE:ABX) and Goldcorp (NYSE:GG) plummeted with it.

Barrick Gold dropped the most of the major three gold miners, falling to $44.80 in New York, a decline of $1.58, or 3.41 percent, at the end of the trading day.

Goldcorp wasn't far behind them, falling to $44.35 a share, a drop of $1.51, or 3.29 percent at close.

Finally, Newmont was next, plunging to $59.48 at the end of the day, a decline of $1.77, or 2.89 percent.

This was mostly based on investor taking profits and putting their money to work elsewhere.

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