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.