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AngloGold Ashanti (AU) Stock Drops on Lower Gold Prices

NEW YORK (TheStreet) -- AngloGold Ashanti (AU - Get Report) stock is retreating 4.13% to $14.62 in afternoon trading Thursday following a decline in gold prices.

Gold for June delivery is falling 1.67% to $1,227.50 per ounce on the COMEX this afternoon after the dollar strengthened, making it more costly to hold precious metal abroad, Reuters reports.

"The big shock for the gold market, and commodities markets in general, was the big move higher in the dollar yesterday," Danske Bank analyst Jens Pedersen told Reuters. "Overall I see gold prices remaining fairly stable...


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