HSBC raised the firm’s price target on AngloGold Ashanti (AU) to $55 from $38 and keeps a Reduce rating on the shares. The firm believes gold can trade above $4,000 per ounce in the near term on geopolitical risks, fiscal uncertainties, and threats to Federal Reserve’s independence. It updated price targets in the sector.
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Read More on AU:
- December Gold tops $4,000 per ounce, Goldminers higher
- AngloGold Ashanti price target raised to $76 from $57 at Roth Capital
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- Goldminers advance in pre-market as Gold futures top $3,850 per ounce