From The Motley Fool
Gold miners in general, which are represented in the Market Vectors Gold Miners ETF(NYSEMKT: GDX), and the world’s biggest gold producer, Barrick Gold (NYSE: ABX), in particular are not looking so good following the drop in gold prices. While on one hand, the fall in the value of the precious metal has exposed the massive debt of these miners, on the other hand, Barrick Gold has to deal with its massive mine on the Chile-Argentina border which is now looking less lucrative.
Analysts have also pointed out that some of the leading gold miners are going to write down the value of their assets in the coming quarters. While some believe that the sector has hit rock bottom, I think that it can go down even further.
