For June delivery, gold is popping by 1.31% to $1,238 per ounce on the COMEX this afternoon.
The metal is advancing following dovish comments from Yellen, who said the slowdown in China and tumbling oil prices help justify a slower pace for future interest rate hikes, the Wall Street Journal reports.
Non-interest paying gold struggles to compete with assets that offer a yield when interest rates are higher.
Yellen, who spoke at the Economic Club of New York this afternoon, also said the central bank will rely on bond purchases if the economy declines, MarketWatch noted.
AngloGold is a Johannesburg, South Africa-based gold mining and exploration company.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income and expanding profit margins.
However, as a counter to these strengths, the team finds that the company has favored debt over equity in the management of its balance sheet.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AU