Anglo American finally exited AngloGold Ashanti during the course of last year in a move that captured the investment prospects of the yellow metal.

A stock worth piling Seen as a safe haven during volatile times, gold shows resilience Anglo American finally exited AngloGold Ashanti during the course of last year in a move that captured the investment prospects of the yellow metal.

Anglo American had for some years lived with the pressure to dispose of its gold exposure in order to achieve a better focus on its core businesses of base metals, iron ore and platinum. The minerals giant had maintained that it would not be pressured into a hasty exit from gold and needed to ensure that such an exit delivered optimal shareholder value.

Arguably, this decision hinged on the outlook of gold as an investment asset class, which filters through to gold stocks. Anglo American's move to finally get out of gold came just after the gold price had breached the US$1000/oz level in 2008. In 2003 the average gold price stood at about $364/oz and has since improved over the years to boast an average of $974/oz last year.

Gold was propelled by the fact that it is seen as a …