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Why Precious Metal Investors Are Watching China and the Fed (Continued from Prior Part) Mining output
The gold price has plummeted about 40% from a record $1,921.17 per ounce in September 2011 to $1,077.40 on July 24, the lowest since February 2010. The buyers had lost faith in the greenback as a store of value. However, prospects for higher US rates and a stronger dollar have pushed the prices south. Almost 10% of world bullion miners are losing money. The below chart gives the price movements in gold from 2008 to 2015.
Bullion performance
Recently, gold, silver, and platinum have surged. However, palladium declined. From currency devaluations in China to Kazakhstan and a global sell-off in equities, global events have boosted demand for a haven. Gold futures for December expiry gained ~3% on a safe-haven note. Silver futures too gained 0.78%. However, gold and silver have a year-over-year loss of 5.12% and 5.75%, respectively, as of September 3. ETFs like the SPDR S&P Metals and Mining ETF (XME) and the Global X Silver Miners ETF (SIL) have also increased 3.38% and 3.42% on a 30-day trailing basis.
When mines last trimmed operations, bullion still slid as much as 29% into a bear market. Even production surpluses in 2010 and 2011 didn’t prevent prices from reaching records. Given the data mentioned above, it is uncertain whether gold prices will move on the surplus and deficit.
Miners’ balance sheets
Gold’s plunge is stressing balance sheets in an industry where the biggest producers are weighed down by a record debt load of $31.5 billion. These big miners include players like Barrick Gold (ABX), Newmont Mining (NEM), and AngloGold Ashanti (AU). AngloGold Ashanti had to cut some of its higher cost production. Profit margins for the 15 largest producers have dropped as much as 45% since 2011, while their debt has doubled to about $34.7 billion. NEM, AU, ABX, and GOLD together make up 21.5% of the Market Vectors Gold Miners ETF (GDX).
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PRODUCTEUR |
CODE : AU |
ISIN : US0351282068 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
AngloGold est une société d’exploration minière d'or basée en Afrique Du Sud. AngloGold est productrice d'or, d'argent, de cuivre et de zinc au Bresil, au Canada, au Ghana, au Mali, en Australie, en Afrique Du Sud, en Argentine, en Guinee, en Namibie et en Tanzanie, en développement de projets de fer et d'or au Bresil, en Australie, en Afrique Du Sud, en Colombie et en Republique Democratique Du Congo, et détient divers projets d'exploration aux Philippines. Ses principaux projets en production sont CRIXÁS, MINERAÇÃO, SAO BENTO, ANGLOGOLD ASHANTI MINERAÇAO et CRIXAS MINE au Bresil, SUNRISE DAM GOLD MINE en Australie, NAVACHAB MINE et NAVACHAB en Namibie, YATELA, MORILA et SADIOLA au Mali, CERRO VANGUARDIA en Argentine, MPONENG (WESTERN DEEP NO. 1 SHAFT), TAUTONA (WESTERN DEEP NO.3 SHAFT), BAMBANANI, TAU LEKOA, MPONENG, SAVUKA, TAU TONA, GREAT NOLIGWA, KOPANANG et CRIPPLE CREEK & VICTOR (CRESSON MINE) en Afrique Du Sud, SIGUIRI en Guinee, TEBEREBIE, IDUAPRIEM, OBUASI et KUBI au Ghana, GEITA en Tanzanie et TROUT LAKE MINE et CALLINAN MINE au Canada, ses principaux projets en développement sont MOAB KHOTSONG en Afrique Du Sud, MINAS-RIO au Bresil, LA COLOSA et GRAMALOTE en Colombie, KIBALI (KILO-MOTO) en Republique Democratique Du Congo et TROPICANA en Australie et ses principaux projets en exploration sont HUALATAN et ER au Perou, MKURUMU en Tanzanie, 777 PROJECT et RIVARD au Canada, LOUBOUGOULA, GOODPASTER et ALAMOUTALA (SADIOLA II) au Mali, BAMBADJI au Senegal, MORRO VELHO au Bresil et SIANA aux Philippines. AngloGold est cotée aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,3 milliards (1,2 milliards €). La valeur de son action a atteint son plus bas niveau récent le 23 novembre 2018 à 10,00 , et son plus haut niveau récent le 10 octobre 2024 à 26,76 . AngloGold possède 47 442 200 actions en circulation. |