NEW YORK (TheStreet) -- Eldorado Gold (EGO) - Get Report stock is falling 1.80% to $4.37 in afternoon trading on Thursday as gold prices continue to be pressured by expectations of a rise in U.S. interest rates. Higher rates would boost the dollar making gold more expensive to hold abroad.
Gold for August delivery is down 0.33% to $1,222.50 per ounce on the COMEX this afternoon.
Some analysts are predicting interest rates will increase twice by the end of the year, Bloomberg reports.
"Definitely, second half of the year, we're going to get two hikes -- that's not fully priced in, and that's why most dollar strength's to come," Dominic Schnider, who leads the commodities and Asia-Pacific foreign exchange divisions at the Hong Kong unit of UBS, told Bloomberg.
"Gold is going to roll over, we're going to fall back to $1,150, and so be ready for more weakness in the short term," he added.
There's a 34% chance that interest rates will rise in June, up from a 12% chance a month ago, according to Bloomberg.
Eldorado Gold is a Vancouver, BC gold mining company with operations in China, Greece, Romania and other countries.
Separately, Eldorado Glold has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's disappointing return on equity, weak operating cash flow and generally disappointing stock performance.
You can view the full analysis from the report here: EGO
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 article's author.