NEW YORK (TheStreet) -- Shares of New Gold (NGD) - Get Report are gaining 4.89% to $3.22 in afternoon trading on Tuesday as gold prices advance.

For April delivery, gold is rising 1% to $1,222.20 per ounce on the COMEX this afternoon.

The price of the precious metal is increasing today as concerns over the global oil glut and slower growth in China boosted safe-haven demand, the Wall Street Journal reports.

Gold is traditionally seen as a safer asset during times of financial instability.

"In the very near term, volatility will continue to be the driver of the gold market and if risk appetites continue to fade this week, the well-defined uptrend in gold is poised to continue with key support lying between $1,190 and $1,200 an ounce," Tyler Richey, co-editor of The 7:00's Report, told MarketWatch.

New Gold is a Canada-based gold mining company engaged in the development and operation of mineral properties.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

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This is driven by some concerns, which 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 covered.

The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and poor profit margins.

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: NGD

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