DRDGold slips as investors cash out
DRDGold Ltd. (Nasdaq: DROOY) investors are cashing in their gains after the South Africa-based gold mining company shot to a 52-week high in Thursday’s trading. DRDGold shares are declining moderately in heavier-than-normal trading.
DRDGold and other emerging market miners rose in Thursday’s trading as the price of gold rose past $900 as investors speculated that the Federal Reserve will further cut interest rates. In morning trading, gold prices are continuing to rise and may approach a year-high of $921.
In morning trading, DROOY shares are down 4.76%, or $0.54, at $10.81. Over the last 52 weeks, shares have ranged from $4.73 to $11.55.
