BUZZ-Gold miners: Metal at 8-month low, Dundee Capital cuts forecast

Fri Jul 17, 2015 10:50am EDT
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** U.S.-listed shares of gold miners down

** Gold languished near its lowest level in eight months and is set to extend its losing run to a fourth week, pressured by a firmer dollar as expectations grow that the Federal Reserve will raise interest rates this year.

** Dundee Capital Markets cuts 2016 and long-term price forecast for gold, silver

** Cuts price targets, saying Q2 earnings for companies under coverage will drop by 44 pct

** Analysts say average gold prices fell 7 pct in Q2, silver prices fell 16 pct

** Barrick Gold Corp down 6.3 pct at $8.66; Goldcorp Inc down 4.4 pct at $14.98; Kinross Gold Corp down 4.5 pct at $1.93; Iamgold Corp down 5.3 pct at $1.61; Primero Mining Corp down 5.4 pct at $3