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Gold miners’ bull run squeezed as prices plummet and energy costs soar
Gold prices fell again on Monday morning as investors continued to ditch exposure to the precious yellow metal, which is having its status as a safe-haven trade tested amid the ongoing war in Iran. The recent move lower inevitably has second-order effects on miners, whose market values soared before the war as gold prices skyrocketed. Mining companies are among the most volatile stocks, typically acting as a leveraged bet on the gold price, rising during a commodities bull run and falling further during a sell-off. Since the war, the price of gold has fallen, lowering miners’ revenues, and the oil and gas supply ... (full story)