Gold for February delivery is sliding 0.23% to $1,236.20 per ounce on the COMEX this afternoon.
Since the start of 2016, investors have flocked towards safe haven assets amid global market volatility. However, gold has given up some of those gains recently and is down today as markets calmed down, Reuters reports.
The Dow Jones industrial average traded more than 150 points higher in the afternoon, boosted by oil.
Looking ahead however, demand for gold could be more robust than simply short-term buying, Capital Economics commodities economist Simona Gambarini told the Wall Street Journal, with expanded buying from Russia and Kazakhstan.
Based in Canada, Kinross Gold engages in the acquisition, exploration, development, and production of gold properties.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter 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. The area that we feel has been the company's primary weakness has been its disappointing return on equity.
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: KGC