The price of gold is increasing on Tuesday due to a rise in safe-haven investing in the precious metal, the Wall Street Journal reports.
Investors are worried about the global oversupply of oil, which has pressured oil prices, and the Chinese economy, according to the Journal. Gold prices have increased about 15% so far this year due to market volatility.
"If there is another big sell-off in equity markets, then levels around $1,260 are very achievable because you'd see defensive investors coming forward," ETFSecurities analyst Martin Arnold told Reuters.
Gold for April delivery is up by 1.25% to $1,225.20 per ounce on the COMEX this morning.
Based in Canada, Yamana operates gold mines in Brazil, Chile, Argentina and Canada.
Separately, 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.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: AUY