The price of gold plunged below the $1,300 per ounce level May 15, taking mining companies’ stock down with it.
At the close of markets on May 15, gold fell to $1,292 per ounce, according to the Kitco Gold Index.
The decrease came as the U.S. dollar strengthened and bond yields grew to multiyear highs, Kitco News reported.
Barrick Gold Corp. share prices closed at $13.17, down 31 cents.
Newmont Mining Corp. went down 88 cents to $39.51.
Kinross Gold Corp. stocks also were down 8 cents to $3.64.