Large gold mining companies, such as Barrick Gold, have not only seen their shares fall by 50%, but they are also under siege from shareholders, who are angry at generous executive salaries and demand strategic changes and space on boards of directors. Traders also cited the liquidation of major gold-traded fund hedge funds, especially the SPDR Gold Trust GLD. The fall in the Live Gold Price has shattered the economy of overburdened gold mining companies, which have seen their shares fall this year. There have been no sharp changes in the macroeconomic argument in favor of gold in the past week, although numerous factors have prevented the Live Gold Price from rising this year, while investments such as the U.The company that has been trying to develop a gold mine in Alaska without success since the start of the gold boom have experienced a 54 percent drop in its shares this year.
The crisis in the gold mining sector is enormous, given that these companies have been underperforming the price of gold itself for years, giving investors little advantage when the price of gold rises and causes them big losses when gold falls, as it has done this year. For 12 consecutive years, the price of gold has increased in value in the face of the bursting of the Internet bubble, the accounting scandals of Enron, the war in Iraq, the rise and fall of housing, the financial crisis and the era of massive monetary stimulus. The fall in prices affected the shares of gold mining companies, such as Canada's Barrick Gold Corp ABX. Sentiment around gold has been declining since April, when billionaire investor George Soros indicated that gold was no longer a safe haven and that smart money was coming to light.
Interactive chart of historical data on the real (inflation-adjusted) prices of gold per ounce since 1915.