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; [email protected]