On June 29, AngloGold Ashanti fell 7.44% overnight, trading at $75.55/share, with turnover of $319. The decline came amid sustained weakness in international gold prices and a collective bearish shift among major institutions toward precious metals.

On the news front, spot gold has broken below the $4,000/oz level for the first time since November last year, falling approximately 30% from its all-time high of $5,596/oz. The Fed maintained rates unchanged but market expectations for further rate hikes have intensified, with a strengthening US dollar and rising Treasury yields continuing to suppress precious metals. Deutsche Bank slashed its Q3 gold price target by 22% to $4,300/oz, while Bank of America acknowledged its prior $6,000/oz target appears unlikely. The institutional consensus shift triggered broad-based selling across gold mining stocks.

AngloGold Ashanti is a global gold mining company with operations across 11 countries on four continents, with gold as its primary product.

(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.)