Gold for December delivery was down 0.3% to $1,325.70 per ounce on the COMEX this afternoon.
On Friday, Federal Reserve Chairwoman Janet Yellen will speak at the central bank's annual Economic Policy Symposium in Jackson Hole, WY.
Analysts expect Yellen's comments to point toward future monetary policies, MarketWatch reports.
Additionally, other Fed policymakers have voiced their support of an interest rate hike today.
Kansas City Fed President Esther George said in an interview with Bloomberg today that she thinks "it is time to move" interest rates, as inflation and the job market strengthen.
Bank of Dallas Fed President Robert Kaplan also spoke about increasing rates soon during an interview with CNBC.
Higher interest rates tend to lead to lower gold prices as investors turn toward assets that provide high yields.
Goldcorp, based in Vancouver, is a gold producer operating in the U.S., Canada, Mexico, and Central and South America.
Separately, 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 rated this stock as a "hold" with a ratings score of C-.
The company's strengths can be seen in multiple areas, such as its solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow.
You can view the full analysis from the report here: GG