Shares of Mexico's Penoles slide nearly 13pc

MEXICO CITY: Shares of Mexican miner and metals processor Industrias Penoles dropped almost 13 percent on Monday as gold prices fell dramatically.

Gold headed for its biggest two-day drop in 30 years on Monday as funds accelerated their exits from the market, and investors also cut exposure to oil, copper and grain after underwhelming Chinese growth data.

Penoles, which runs the world's largest primary silver producer Fresnillo, saw its shares tumble to about 480 pesos per share.