On Monday, gold and silver mining stocks declined across the board, with Gold Fields (GFI.US) plunging more than 11%, while AngloGold Ashanti (AU.US) fell over 5%.

Eldorado Gold (AEM.US) and First Majestic Silver (AG.US) each dropped more than 4%, while Silvercorp Metals (SVM.US) and Pan American Silver (PAAS.US) declined nearly 4%.

Newmont (NEM.US) and Kinross Gold (KGC.US) each fell more than 3%.

On the news front, spot gold briefly fell below $4,140 per ounce during intraday trading, down more than 3% for the day. Spot silver also briefly dropped below $61 per ounce, declining more than 5% intraday.