Wednesday, August 11, 2010

Anglo American (LON:AAL), Kinross Gold (NYSE:KGC) and AngloGold Ashanti (NYSE:AU) All Drop As Gold Prices Fall

Gold miners have been taking a hit today, especially right before noon, when traders tend to make their moves, and gold prices along with it. Anglo American (LON:AAL) (AAUKF:PK), Kinross Gold Corp (TSE:K) (NYSE:KGC) and AngloGold Ashanti (NYSE:AU) all dropped in unison with gold prices during that time.

Anglo American was down to 2,358.00 in London, shedding $115.50, or 4.67 percent, as of 11:35 AM EDT. In New York there were no trades, and it stands at $38.90 in the pink sheets.

AngloGold Ashanti fell to $42.61, a loss of $0.53, or 1.23 percent, as of
12:44 PM EDT.

Kinross Gold (NYSE:KGC) lost $0.51 to drop to $15.16, a loss of 3.25 percent at 12:46 PM EDT.

After a quick start today, spot gold prices started to fall a little before 11:00 AM, an are now at $1,193.50, a loss of $10.50.

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