The Financial Post reports in its Thursday edition that gold mining stocks continued to sell off Wednesday as investors take profits amid a two-day slump in spot gold prices. A Bloomberg dispatch to the Post says shares of miners like Newmont, Agnico Eagle Mines and Barrick all sank by as much as 3 per cent Wednesday after falling around 9 per cent on Tuesday. "Momentum had just reached unsustainable levels, with the bullion gaining almost US$500 per ounce in about three weeks," Scotiabank analyst Hugo Ste-Marie said in a note Wednesday. Mr. Ste-Marie sees the large correction in gold miners as quicker than expected and expects a potential period of digestion over the next few months. Miners had been surging all year, with gains more than double those in bullion. That had prompted some investors to pull $669-million (U.S.) last month from the biggest gold exchange-traded fund, the Vaneck Gold Miners ETF. It tumbled 9.4 per cent Tuesday in its worst sell-off since March, 2020, as spot gold suffered its biggest rout in more than a decade. The fund fell as much as 3.5 per cent on Wednesday. Wall Street pros talk of "blow-off tops" to bull runs, where some of the biggest gains in the rally occur right before a sharp drop.