Gold prices received a boost on Thursday as stocks slipped worldwide, Reuters reports.
Gold prices have surged about 16% so far this year due to market volatility. Gold is poised for its highest quarterly increase since 1986, according to Reuters.
"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," Capital Economics analyst Simona Gambarini told Reuters.
Gold for April delivery is higher by 0.46% to $1,234.3 per ounce on the COMEX this afternoon.
Based in South Africa, Gold Fields operates gold mines in Australia, Ghana, Peru and South Africa.
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. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: GFI