NEW YORK (TheStreet) -- Shares of Gold Fields (GFI) - Get Report are soaring by 8.67% to $3.51 in midday trading Tuesday as gold prices reached their highest level in almost three months.

For April delivery, gold is rising by 1.3% to $1,120 per ounce on the COMEX this afternoon.

The price of the metal is getting a boost as investors predict that recent market turmoil will likely cause the Federal Reserve to raise interest rates more slowly this year than previously expected, the Wall Street Journal reports.

"Gold declines last year were largely predicated on more robust Fed tightening," HSBC analysts said in a note cited by the Journal. "If interest rates do not rise as fast as previously anticipated, gold prices may adjust higher."

The non-interest-paying precious metal struggles to compete with interest-paying assets when interest rates climb.

Gold Fields is a South Africa-based gold producer with eight operating mines in Australia, Ghana, Peru and South Africa.

Separately, TheStreet Ratings Team has a "sell" rating with a grade 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. Among the areas we feel 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

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