Newcrest shares hit by gold slide

Shares in miner decline more than 3% as gold price slumps to 15-month low.

Shares in Newcrest (NCM) have dropped sharply in early trade as the price of gold fell to its lowest level in 15 weeks on signs of improvement in the US economy and hopes of stability in Ukraine dimmed investor appetite for the safe-haven asset.

At 11.15am (AEST) Newcrest shares were 3.71% lower at $9.87, against a benchmark index lift of 0.21%. In earlier trade, Newcrest shares hit as low as $9.81.

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