On September 3, Anglogold Ashanti rose 3.07% in regular trading, trading at $110.865/share, with turnover of $14.155 million. The rally came amid a broad recovery across the precious metals sector, with gold stocks gaining on renewed buying momentum.

The gold sector showed a widespread uptrend, with peer stocks Gold Fields up 5.13%, Agnico Eagle Mines up 3.05%, Newmont Mining up 2.39%, Barrick Mining up 2.33%, and Coeur Mining up 2.10%. Deutsche Bank noted in a recent report that systematic trading fund buying that drove the prior gold rally is nearing exhaustion, while selling pressure has also largely dissipated, suggesting precious metals prices may hold firm even if the Fed maintains hawkish rhetoric, with the next leg higher potentially driven by discretionary traders.

It is worth noting that the company previously reported Q2 earnings per share of $1.98, missing the market expectation of $2.38, while gold income of $3.03 billion also fell short of the $3.20 billion estimate. However, the company expects higher production volumes in the second half to drive unit costs lower, with full-year guidance maintained unchanged.

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