The Globe and Mail reports in its Thursday, Nov. 6, edition that gold hit four-year lows Wednesday. The Globe's Rachelle Younglai writes that bullion fell as low as $1,137.40 an ounce. The dramatic fall in gold prices comes as mining companies reported poor results for the third quarter. Yamana Gold lost $1-billion in the quarter and recorded a hefty impairment charge on some of its Brazilian mines. Goldcorp surprised investors with a third quarter loss and writedown due to lower precious metal grades at its Mexican mine. Allied Nevada Gold reported a loss and missed analyst expectations. "Investors are pricing in $1,000 gold price," says Maison Placement Canada president John Ing. "They are dumping all companies." As gold has plunged, producers have taken steps to slash costs, boost production efficiencies and clean up their balance sheets. Investors fear there is little more room for more cost cutting without slashing production outright. This year, Barrick Gold shares have lost 33 per cent to $12.50. Yamana is off 58 per cent to $3.97. Shares of Iamgold, which reports next week, have sunk 53 per cent to $1.75. Investors are now dumping gold in favour of interest-bearing assets.