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Latest Business News: The Trade: Dump the Gold Miners

Wochit 1:08 mins

If owning gold over the last year has been painful, being long Market Vector's Gold Miner ETF has been so brutal it would make Torquemada squeamish. Even including today's rally the GDX has lost 47% year-to-date and more than 40% for the last 12-months. Microsoft has crafted a new strategy, along with a series of leadership-changes, all toward the goal of making Microsoft a more cohesive company with products-and-services that sync better together. A bipartisan group of senators is closing in on a deal to lower interest rates on student loans after they doubled on July 1. Eight senators, including previously reluctant to compromise Democratic Sens. Dick Durbin and Tom Harkin, are hammering out a deal that would permanently tie student loan rates to interest rates on Treasury notes. That would lower rates in the short term, but could mean that rates rise above 6.8 percent in the future.

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