Healthy US retail sales figures boosted the US dollar this week and dragged gold down.
Articles Tagged "NYSE:AU"
AngloGold Ashanti (NYSE:AU) announced strong first quarter earnings, despite a drop in gold prices.
Gold companies enjoyed a lift from gold price gains on Wednesday, although some of that was given up Thursday with the release of positive US employment data.
Kinross and Barrick both announced multi-billion-dollar writedowns in the fourth quarter. Investors, however, see a silver lining in the bad news.
AngloGold Ashanti (NYSE:AU) announced that the strike across its three mines in the Vaal River region has ended, and that gold production for Q3 was lower than expected, due to labour shortages.
AngloGold Ashanti (NYSE:AU) announced that its South African mines remain inactive due to an unprotected strike, but commented that it is open to considering negotiations.
Platinum miners have been most affected by disgruntled laborers, but the turmoil is spreading into the gold space.
AngloGold Ashanti (NYSE:AU) announced that second quarter production beat the company's outlook, producing 1,073,000 million ounces of gold. Several expansion projects are also on track.
Gold prices dropped on Thursday due to a discounted interest rate cut from the European Central Bank and the expectation that disappointing economic data out of the United States will follow at the end of the week.
Mining Weekly reported that Kinross Gold (NYSE:KGC) sold its stake in the Brazil-based Crixas mine to AngloGold Ashanti (NYSE:AU) for $220 million.