Thursday, July 1, 2010

Newmont (NYSE:NEM), Goldcorp (NYSE:GG), Barrick (NYSE:ABX) Plunge, Time to Buy More Shares?

As mentioned on Everything Gold recently, this week promised to be a volatile one for gold prices, and that's turned out to be true, as gold miners like Newmont Mining (NYSE:NEM), Goldcorp (NYSE:GG) and Barrick gold (NYSE:ABX) are all down big, as gold prices today continue to plummet, down by $41.40 as of 2:44 PM EDT.

That brings gold prices almost down to the psychologically significant $1,200 an ounce mark, now standing a $1,201.

Investors in major gold mining companies do need to watch the situation carefully, as it could offer a good entry point, especially in regard to Goldcorp, if you like them as an investment opportunity.

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