For December delivery, gold was retreating 0.46% to $1,310.40 per ounce on the COMEX this morning.
The dollar hit a three-week high earlier today after upbeat data from payrolls processor ADP, Reuters reports. Gold is more expensive to foreign currency holders when the greenback is strong.
The data showed that private employers in the U.S. added 177,000 jobs in August, while economists had projected 175,000 jobs. This prompted speculation that the Federal Reserve could move forward with raising interest rates.
The ADP data also supported expectations that Friday's U.S. jobs report will be strong, Reuters noted.
The precious metal is non-interest paying and has difficulty competing with assets that offer a yield when interest rates are hiked.
Toronto-based Yamana is a gold and copper exploration company that operates seven mines and oversees several ongoing development projects in Brazil, Argentina and Chile.
(Yamana is held in David Peltier's Stocks Under $10 portfolio. See all of his holdings with a free trial.)
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
This is driven by a number of negative factors, 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.
Among the areas the team believes are negative, one of the most important has been an overall disappointing return on equity.
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 article's author.
You can view the full analysis from the report here: AUY