The price of the precious metal spiked following comments from Fed chairwoman Janet Yellen, who noted that the central bank is going to take a more cautious approach when it comes to interest rate hikes.
Gold can struggle when rates go up as the asset pays no interest to those that hold it.
Gold for June delivery is gaining by 1.38% to $1,238.80 per ounce on the COMEX this afternoon.
Speaking at The Economic Club of New York, Yellen said that the Fed is going to rely on bond purchases if the economy falls, MarketWatch reports.
Newmont Mining is a Greenwood Village, CO-based global mining company that is focused on producing and exploring for gold and copper.
Separately, TheStreet Ratings has set a "hold" rating and a score of C on Newmont Mining stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including deteriorating net income, poor profit margins and weak operating cash flow.
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