AngloGold Ashanti Limited (ADR) (NYSE:AU)
CAPS Rating:
The Company conducts gold-mining operations in Argentina, Australia, Brazil, Ghana, Guinea, Mali, Namibia, South Africa, Tanzania and the United States of America. The Company also produces uranium oxide and sulphuric acid.
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Euro bailout, China easing, USA with two rounds of QE, all mean gold should remain expensive and keep going higher. However, the gold price has been stable YTD but many gold producers are down 15-20% plus over that same time. Buying for two reasons: Future gold price increase expected. The stock is oversold and has met my technical criteria.