Why AngloGold Stock Is Jumping Today
Shares of AngloGold Ashanti Plc (NYSE: AU) are rising on Monday, up 7.1% as of 3:46 p.m. ET. The move comes as the S 500 and the Nasdaq Composite gained 1.5% and 2.3%, respectively.
The gold and precious metals miner's stock is rising as gold futures are having one of their strongest sessions of the year. Investors are now confident that the Federal Reserve will cut rates once again in December.
The ongoing government shutdown meant no official jobs report for October last week, but the numbers from private firms do not inspire confidence. One report pegged October job losses at 153,074 -- the worst October on record since 2003. In light of this, the market sees a 65% chance the Federal Reserve will cut rates in December, according to the FedWatch tool from CME Group.
Source Fool.com
