SBSW - Miners slide as strong dollar rising yields weigh on gold

Precious metals miners are slammed as metal prices fall, led by gold and silver due to a stronger dollar and higher U.S. Treasury yields.February Comex gold (XAUUSD:CUR) -2.9% to $1,858/oz., dropping below $19,000/oz. and its 50- and 100-day moving averages, while March silver (XAGUSD:CUR) -5.2% to $25.83/oz."Gold is having a major fundamental shift for many investors and they're starting to abandon their safe haven trade for gold," says OANDA's Edward Moya. "You're probably going to see that the Treasury market sees some strong flows and that's taking away some of the appeal from gold."Among gold miners, the worst performers include [[EGO]] -6.5%, [[NGD]] -6.1%, [[AGI]] -5.7%, [[AUY]] -5.4%, [[IAG]] -5.4%, [[KGC]] -5.2%, [[BTG]] -4.9%, [[AEM]] -4.5%, [[KL]] -4.4%, [[HMY]] -4.4%, [[SBSW]] -4.2%, [[GOLD]] -3.6%, [[AU]] -3.3%, [[NEM]] -3.1%.Underperforming silver miners include [[CDE]] -9.9%, [[EXK]] -9.6%, [[HL]] -9.1%, [[FSM]] -7.6%, [[PAAS]] -6.8%, [[AG]] -6.3%.ETFs: [[GLD]], [[SLV]], [[GDX]], [[NUGT]], [[IAU]], [[SIL]], [[GGN]],

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Miners slide as strong dollar, rising yields weigh on gold