Gold is climbing amid declining stocks and volatile oil prices, which causes a rise in safe-haven investing in gold, the Wall Street Journal reports.
Though gold has advanced by about 16% so far this year, analysts doubt that the precious metal's rise is sustainable.
"To me this is only a sustainable market as long as everything else stays bearish," David Govett, head of precious metals at Marex Spectron, told the Journal.
For April delivery, gold is gaining by 0.54% to $1,229.20 per ounce on the COMEX this afternoon.
The Vancouver-based New Gold is a 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. 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