Base metals and precious metals weakened on July 22
On Friday, July 22, the stocks related to base metals and precious metals declined because of the weakness in these respective metals.
AngloGold Ashanti expects profits in the first half of 2016
AngloGold Ashanti (AU), a multinational gold miner, announced on Friday, July 22, that it expects to see profits in the first half of 2016. This is better than its performance in the first six months of 2015.
According to AngloGold Ashanti, its profits in the first six months of 2016 are expected to be in the range of $45 million to $59 million. This is much better than $143 million loss in the first six months of 2015. The earnings are expected to range from $87 million and $99 million.
According to the company, the profits resulted from the rebound of metal prices, cost control measures, and supporting weaker local currency. Since the beginning 2016, AngloGold Ashanti gained more than 195%. At 12:15 PM EDT on July 22, it was trading at $21.13, a drop of ~0.05%.
The performance of the top five and bottom five companies in the gold industry on 3:40 PM EDT on July 22 are listed below.