On August 19, Anglogold Ashanti rose 5.05% in pre-market trading, trading at $102.82/share, with turnover of $4.68 million. The rally was driven by spot gold prices holding firmly above $4,400/oz, fueling broad-based strength across gold mining stocks.
On the macro front, global central banks purchased a net 289 tonnes of gold in Q2, surging 62% year-over-year, reinforcing structural demand support. Deutsche Bank strategist Michael Hsueh noted that gold remains in its fifth explosive rally phase, with a year-end target range of $4,700-$5,100/oz. Meanwhile, Fed rate hike expectations have cooled significantly, providing additional tailwinds for precious metals.
On the company level, Anglogold Ashanti reported Q2 gold income of $3.03 billion, up 25.7% year-over-year, with EPS of $1.98, a 58.4% increase. Management maintained full-year production and cost guidance, projecting lower unit costs in H2 as output scales up. Additionally, the proposed $2 billion share repurchase program has been approved at a shareholder meeting, further bolstering investor confidence.
(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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