For August delivery, gold is retreating by 0.2% to $1,224.10 per ounce on the COMEX this afternoon.
Federal Reserve governor Jerome Powell said an interest rate increase could be appropriate fairly soon, CNBC.com reports. He added that he supports gradual hikes if data reinforces forecasts of an improving economy.
The non-interest-paying metal struggles to compete with assets that offer a yield when interest rates are raised.
Earlier today, gold prices increased as a weaker dollar supported demand for the precious metal, the Wall Street Journal said.
A softer dollar makes gold less expensive to foreign currency holders.
Newmont Mining is a Greenwood Village, CO-based mining company focused on the production of and exploration for gold and copper.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.
However, the team also finds weaknesses including disappointing return on equity, weak operating cash flow and feeble growth in the company's earnings per share.
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: NEM