Shares of gold miners were mixed Tuesday, as the price of gold declined modestly after strong gains the previous day.


Gold settled $1.20 lower at $634 an ounce on the New York Mercantile Exchange. On Monday, the contract had jumped $13.50 to close at $635.20 an ounce.

Gold mining equities initially slipped Tuesday, with some turning skyward in afternoon trading and others remaining in retreat.

Shares of Canada's Barrick Gold Corp., the world's largest gold producer, lost 2 cents to $32.98 on the New York Stock Exchange. Newmont Mining Corp. also traded higher, adding a penny to $52.56 on the Big Board.

Among those in retreat were AngloGold Ashanti Ltd., whose U.S.-traded shares shed 86 cents to $49.22, and Freeport McMoran Copper and Gold Inc., which dipped 49 cents to $56.66 in afternoon trading.