Placer Dome Inc -
NP says gold's price plunge hurts Barrick, Placer
Placer Dome Inc PDG
Shares issued 250,058,657 1999-04-05 close $16.1
Tuesday Apr 6 1999
See Barrick Gold Corp (ABX) In the News
The National Post reports in its Tuesday, April 6, edition that gold prices continued to tumble yesterday, falling $1.60 (U.S.) to $278.30 on the Comex division of the New York Stock Exchange. The National Post's Garry Marr writes in his Market Action column that gold prices have already fallen 3.3 per cent this year. Barrick Gold and Placer Dome are following gold's decline. Barrick shed 50 Canadian cents to close at $25.05 yesterday, and is off 15.8 per cent for the year, while Placer Dome retreated 40 cents to close at $16.20 yesterday, and is off 8.6 per cent for the year. Unnamed analysts say Swiss plans to sell gold reserves have hit the market hard. In balloting on April 19, Swiss voters will be asked whether to amend the constitution to allow the country's central bank to sell about 1,300 tonnes of gold, half its reserves. Last week, the Swiss government said the sales, which would take place over a number of years, could begin in the spring of 2000 if the amendment is approved.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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