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Closing Glance: Gold stocks end down as metal's price falls



07 May 2008 @ 04:42 pm EST

NEW YORK (AP) - Shares of gold mining companies fell Wednesday as the precious metal lost value in U.S. trading.

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Quotes
GOLD 45.3 0.2
NEM 48.01 -0.95
ABX 44.44 -0.25
FCX 105.21 -4.38

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Gold for June delivery fell $7.10 to $870.60 an ounce on the New York Mercantile Exchange, after earlier dropping as low as $864.40. Also, the dollar rose against major currencies.

Here is how some gold miners fared.

Randgold Resources Ltd. American depositary shares fell $1.91, or 4.2 percent, to $43.14.

Freeport McMoran Copper & Gold fell $2.96, or 2.5 percent, to $114.36.

Newmont Mining Corp. fell 75 cents to $45.22

Barrick Gold Corp. fell 38 cents to $39.01.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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