On September 1, Anglogold Ashanti fell 4.09% in regular trading, trading at $109.32/share, with turnover of $18.62 million. The decline was driven by a combination of macro headwinds and disappointing quarterly results.

On the macro front, Fed Chair Wosh delivered a clear hawkish signal at the Jackson Hole symposium, emphasizing that underlying inflation has not returned toward the 2% target at a sufficient pace and that further policy tightening remains possible. The remarks weighed broadly on gold prices, dragging down the entire gold mining sector. Within the Gold sector, Newmont Mining fell 2.45%, Barrick Mining Corporation fell 2.27%, Agnico Eagle Mines fell 3.12%, Wheaton Precious Metals fell 3.58%, and Coeur Mining fell 3.18%.

On the fundamental side, the company reported Q2 headline earnings of $1.98 per share, up from $1.25 a year earlier but well below the analyst consensus estimate of $2.38. Gold income came in at $3.03 billion, also missing the expected $3.20 billion. While the company maintained its full-year production, cost, and capital expenditure guidance unchanged and guided for lower unit costs in the second half, the earnings shortfall removed a potential support for the stock amid the broader sector selloff.

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