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Last Updated : 21 October 2009 at 01:25 IST

Angologold Ashanti sinks 3% as gold falls weak

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NEW YORK (Commodity Online): Gold mining stocks slip into red after gold prices fell from its highs of USD 1069 per ounce in the choppy market today.

Leading gold mining stocks on the New York Stock Exchange (NYSE) today fell owing to the soothing gold prices. Angologold Ashanti Ltd (NYSE: AU) fell by over 3.2% to USD 43.96, while Hecla Mining Co (NYSE: HL) fell by over 3% to USD 4.75 in the choppy trades today.

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Stocks traded weak due to falling gold prices. The international gold prices stood at USD 1057 per ounce down from its day’s high of USD 1069 per ounce.

In the Indian markets, gold demand started receding after the festive season got over. However, the gold prices had touched the all time high in the recent past in the international market.