For April delivery, gold is down by 0.11% to $1,115.10 per ounce on the COMEX this afternoon.
The price of the precious metal inched down today following comments from the Federal Reserve yesterday suggesting it will increase interest rates this year despite market instability.
The central bank kept interest rates unchanged on Wednesday and said it was "closely monitoring" global economic and financial developments.
Additionally, bullion investors cashed in gains from Wednesday's rally to a 12-week high for gold, Reuters reports.
"(Gold) did jump very much higher overnight, so we're seeing some selling into that rally right now," Mitsubishi analyst Jonathan Butler told Reuters. "We're getting up towards the $1,130 level and there's some fairly significant technical resistance once we get up to $1,136."
Gold declined by 1% today.
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.
This is driven by multiple weaknesses, 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 by the team.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
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