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.