Gold for April delivery is declining 0.89% to $1,226.50 per ounce on the COMEX this morning.
Though the precious metal is sliding today, gold could rally after comments by Federal Reserve Chairwoman Janet Yellen, the Wall Street Journal reports.
Yellen said the Federal Open Market Committee should "proceed cautiously in adjusting policy" at a speech on Tuesday, according to the Journal. Yellen's comments caused the dollar to decline, which makes gold less expensive to foreign investors.
"With the market now feeling that an April rate rise is pretty much off the table and starting to speculate that there may actually be none at all this year (a little premature in my view), gold should benefit," David Govett, head of precious metals at Marex Spectron, told the Journal.
Based in South Africa, Gold Fields operates gold mines in Australia, Ghana, Peru and South Africa.
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. 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