NEW YORK (TheStreet) -- Kinross Gold Corp. (KGC) - Get Report shares are higher by 0.73% to $3.47 on Thursday, still getting support from the Federal Reserve Chair Janet Yellen's dovish remarks on the U.S. monetary policy earlier this week.
Addressing the Economic Club of New York, Yellen on Tuesday said the U.S. central bank should proceed only cautiously in raising interest rates.
This shot gold prices up as the dollar weakened significantly in the wake of her comments. She added that global developments and slow world economic growth are also risks to the U.S. economy.
Also giving the precious metal a lift today was a drop in equities. Given these bullish factors, gold is on track for its biggest quarterly gain in nearly 30 years, Reuters reports.
"Overall real interest rates will remain low, which is what matters for gold," Capital Economics analyst Simona Gambarini told Reuters.
Gold for April delivery is advancing by 0.64% to $1,236.50 per ounce on the COMEX.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
This is driven by a few notable 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