For April delivery, gold is rising by 0.92% to $1,106.40 per ounce on the COMEX this afternoon.
The price of the precious metal got a boost today as declining oil prices and falling stocks pushed investors toward safe-haven assets, the Wall Street Journal reports.
"I don't think this is the start of a sustained bull move but rather a shifting of funds from equities into a perceived 'safe haven,' albeit not a wonderfully performing one," David Govett, head of precious metals at Marex Spectron told the Journal.
Additionally, the Federal Open Market Committee is expected to keep its federal funds rate unchanged at 0.25% to 0.50% at its meeting on Wednesday, Reuters reports. Gold struggles to compete with interest paying assets when interest rates rise because the metal is non-interest paying.
Gold Fields is a South Africa-based producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on Gold Fields.
This is driven by multiple weaknesses, which the team believes 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 it covers.
Among the areas TheStreet Ratings believes are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
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: GFI