Why New Gold Stock Slumped This Week
New Gold's (NYSEMKT: NGD) stock was hardly golden on the market this week. As one of the many pure-play precious metals mining companies on the scene, its equity took a hit as the prices of such goods declined over the past few days. Ultimately, its shares fell by 17% over the week, according to data compiled by S&P Global Market Intelligence.
Precious metals had been on a tear for months, culminating in an all-time high spot price for gold of almost $5,600 per ounce in late January.
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Source Fool.com
