Skip to main content

NEW YORK (TheStreet) -- Yamana Gold (AUY) - Get Yamana Gold Inc. Report stock is up by 5.24% to $2.41 in midday trading on Thursday, after gold prices rebounded following the minutes form the latest Fed meeting, which lowered expectations for a September U.S. interest rate increase.

Gold for December delivery is up 2% to $1,150.50 per ounce on the COMEX this afternoon.

The Fed was expected to increase interest rates in mid-September, but mixed U.S. data and a weaker global economy may delay the hike until December, Reuters reports.

Gold has been gaining since China devalued its currency last week and the U.S. dollar weakened, and may continue to increase until the Fed decides to raise interest rates.

"The news flow has been more bullish to gold after the Chinese central bank currency devaluation," Matthew Turner, a Macquarie analyst, told Reuters.

"But you'd have to think that because of the rate hike the dollar would rise from here, so it's hard to get too excited," Turner added.

Insight from TheStreet Research Team

TheStreet Recommends

Yamana Gold is part of the Stocks Under $10 portfolio. David Peltier, Stocks Under $10 Portfolio Manager, recently had this to say about the company:

This gold-and-copper exploration company operates seven mines and several ongoing development projects in Brazil, Argentina and Chile.

The stock bounced back more than 17% this week. We maintain that management can boost core production while keeping a tight lid on costs.

-David Peltier's "Weekly Roundup" was originally published on 08/14/15 on Stocks Under $10.

Want more information like this from David Peltier and more of Wall Street's sharpest minds BEFORE your stock moves?Learn more about Stocks Under $10 now!

Image placeholder title

AUY

data by

YCharts