Gold for April delivery is climbing by 0.68% to $1,237 per ounce on the COMEX this afternoon.
So far this year, gold prices have risen by about 16%. The precious metal is set for its biggest quarterly increase since 1986, Reuters reports.
"A combination of safe-haven demand on the back of worries about China in particular, a scaling back of expectations of further rate hikes from the Fed, and rising inflation expectations ... have been behind the rally in the gold price," CapitalEconomics analyst Simona Gambarini told Reuters.
Based in Vancouver, Eldorado operates gold mines in Turkey, China, Greece and Romania.
Separately, 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.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: EGO