Featured Post

Latest Gold News

This analyst sees nothing to stop gold from continuing climb Cyber Terrorism another reason to own gold says Faber Fed doves supportin...

Wednesday, October 20, 2010

AngloGold Ashanti (NYSE:AU) Upgrade Not Enough as Gold Prices Today Plummet

Gold prices today plunged, bringing a lot of gold miners down with it, including AngloGold Ashanti (NYSE:AU), which had been upgraded from "Neutral" to "Outperform" by Macquarie.

Gold for December delivery plunged to $1,336, losing $36.10 at the close of floor trading in New York. It has dropped to as low as $1,332.50 earlier in the day.

That temporarily overcame the outlook for AngloGold Ashanti, as it fell to $45.25,losing $1.77, or 3.76 percent.

Volume was a little heavier than its daily average over the last three months.

Gold prices were down because of a stronger U.S. dollar and China's decision to raise interest rates.

No comments: