Movement Alert|Anglogold Ashanti Rises 5.06% in Pre-Market Trading, Gold Price Surge Following Weak Payroll Data Lifts Gold Miners

Market Focus08-12

On August 12, Anglogold Ashanti rose 5.06% in pre-market trading, trading at $101.98/share, with turnover of $8.16 million.

On the news front, international gold prices continued to strengthen after US July non-farm payroll data came in significantly below expectations, with spot gold surging to approximately $4,371, posting a weekly gain of nearly 7%, lifting the broader gold mining sector.

At the company level, Anglogold Ashanti reported Q2 gold income of $3.03 billion, up 25.7% year-over-year, with headline earnings of $1.98 per share compared to $1.25 a year earlier. The company maintained its full-year production and cost guidance unchanged and indicated that unit costs are expected to decline further in the second half as production volumes ramp up. Additionally, the company is pursuing a proposed share repurchase program of up to $2 billion, which received shareholder consideration at a special meeting in July.

Within the Gold sector, other miners also traded higher, with Coeur Mining up 3.26%, Kinross up 3.01%, Agnico Eagle Mines up 2.67%, Barrick Mining up 2.59%, and Newmont Mining up 2.55%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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