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10-05-2012 09:20:00

AngloGold Forecasts Gold Between $1,700/Oz-$1,800/Oz For Rest Of Year

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JOHANNESBURG -(Dow Jones)- AngloGold Ashanti Ltd. (AU) said it expects the gold price to range between $1,700 a troy ounce and $1,800/oz for the remainder of the 2012 calendar year, with the possibility of a break above $2,000/oz, its chief executive said Thursday.

"We expect volatility and could see a bit of a pullback," said chief executive Mark Cutifani. "There's a possibility of popping through $2,000/oz if the news keeps getting worse."

Cutifani said gold averaged about $1,690/oz in the first quarter of its financial year ended March 31 and that the second quarter average could be lower. He said though that the gold mining company expects a stronger second half of the year.

-By Devon Maylie, Dow Jones Newswires; +27117837848; devon.maylie@dowjones.com

(END) Dow Jones Newswires

May 10, 2012 03:20 ET (07:20 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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