Actionable news
All posts from Actionable news

AngloGold Ashanti (AU) Stock Climbs on Federal Reserve Minutes

NEW YORK (TheStreet) -- AngloGold Ashanti (AU - Get Report) stock is higher by 4.97% to $9.18 in late afternoon trading on Thursday, after the Federal Reserve released minutes from its September meeting that suggests it will wait until inflation is higher to hike interest rates.

The minutes show that the U.S. central bank estimates that inflation, which has been below its 2% goal for more than three years, won't reach its target until 2019 at the earliest, according to the Wall Street Journal. The Fed has tied a higher interest rate to a stronger economy.

Any delay to an interest rate increase benefits gold, which cannot accrue interest and will probably struggle to compete with yield-bearing assets amid higher rates.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks with serious upside potential in the next 12-months. Learn more.

Further, the dollar fell to a six-week low following the minutes' release, making gold more affordable for foreign buyers and likely boosting demand.

However, gold for December delivery is sliding by 0.75% to $1,140 per ounce on the COMEX this afternoon.

Separately, TheStreet Ratings team rates...