Newcrest shares hit near 8-year low

By a staff reporter

Shares in Newcrest Mining Ltd hit an almost eight-year low in early trade, on continuing weakness in the gold price.

At 1040 AEST, Newcrest shares were 2.26 per cent weaker at $14.68 against a benchmark index lift of 0.11 per cent.

In earlier trade, Newcrest dropped as low as $14.58, its lowest point since July 2005, when it dropped as low as $14.24.

Overnight, gold prices fell to a four-week low.

The metal hit a session low of $US1,369.29 an ounce before paring losses slightly after a range of US economic data weighed on stocks and the US dollar.

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This is brilliant play by central bankers and huge banks (Golman, Morgan etc.) !!! Central bankers and gvmnts will continue money printing. Hyperinflation better for them then deflation. Wat is more important, during hiperinflation elite will make huge profit while 90% of population will suffer. The most interesting is - elite preparing for hyperinflation misleading all crowd to go to opposite way ! To prepare for hyperinflation they need control of physical gold and good gold companies, big and small. They doing exactly that, escaping from gold ETFs (which is pure fraud as ETFs never had real physical gold) and quietly buying good gold small and big companies and physical metal. When they selling ETFs they crying about it from all corners, when they buying gold stocks and physical metal they keep quite till last moment !!! They very clever and use all dirty tricks to mislead public (remember property boom in USA when elite was qietly playing against it and profited when property price collapsed, same with gold now) that's why they rich. Latest new from so called gold 'bear' G. Soros: "Soros Reports Over $239mm In Gold Positions, Buys $25mm In Call Options On Juniors May 16, 2013 | By Tekoa Da Silva In a 13-F release issued by the SEC after market close yesterday, it was reported that Soros Fund Management LLC, founded and chaired by billionaire financier George Soros, significantly increased its gold related holdings, most notably, through the purchase of over $25 million dollars worth of call options on the GDXJ Junior Gold Miners index. This stunning move by one of the world’s top performing hedge funds, suggests a powerful surge ahead for gold equities. It should be noted, that in the forty years prior to 2010, the Soros Fund averaged a 20% annual rate of return. A breakdown of the 13-F data indicates that during the first quarter, the Soros Fund: 1. Maintained a $32mm stake in individual miners. 2. Added a staggering 1.1 million shares of GDX to its holdings, at a reported price of $37.84 per share. Total Soros Fund GDX holdings now stand at 2.666 million shares, at a reported value of over $100,000,000." 3. Reduced it’s long position in the GDXJ Junior Miners Index fund, from 1.998 million shares to 1.2 million shares—only to turn around, and purchase 1.510 million call options on the same index, at a reported value of $25,200,000. 4. Lastly, the fund reduced its stake in the GLD gold fund from 600k shares to 530k shares, for a total reported value of $82,000,000. In summary, as of May 15th, 2013, Soros Fund Management LLC reported owning over $239.2 million in gold related positioning, with over $25 million dedicated to call options on junior mining stocks. — Bottom Line: While debate continues as to how far gold and gold equities will continue to drop, the Soros Fund is lightening up on physical gold in exchange for gold mining equities and call options on the extremely volatile junior mining stocks. There couldn’t be any stronger indication by the fund as to its beliefs about the timing of this bottom (outside of selling everything and going all-in on call options of course). It remains to be seen whether these positions will end up in the green or not, but with a forty year track record of 20% annual returns, I’ll be betting on the Soros Fund."
I should make correction: when article above saying 'lightening up on physical gold', that's not true at all. GLD is not physical gold, it's ETF, so called gold trust, it's just fraud and Soros knows about it !!! So he sold it.