Shares of most gold mining companies came under pressure Friday amid a
broad-based sell-off on Wall Street. Financial markets headed south as lingering
sovereign debt concerns in Europe overshadowed the better than expected U.S.
non-farm payrolls data. The Associated Press reported that Greek Prime Minister
George Papandreous government faces a vote of confidence later Friday that could
determine whether he stays in office. Papandreou stunned financial markets and
European leaders on Monday with a call for a popular vote on an unpopular
package of austerity measures. The vote was scrapped Thursday, but markets are
still unnerved by the political turmoil in Greece, which threatens to hobble
Europes efforts to control its debt crisis. The AMEX Gold Bugs Index (HUI),
comprised of the worlds largest gold producers, slid 1.8% to 583.95 in late
morning trading.
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