For December delivery, gold is gaining 1.03% to $1,348.20 per ounce on the COMEX this morning.
The Federal Reserve decided to keep interest rates unchanged at this week's policy meeting and stopped short of signaling that a future rate hike is possible for later this year, Reuters reports.
The yellow metal is non-interest paying and can struggle to compete with assets that bear a yield when interest rates are raised.
"The gold price reacted quite positively to the news that there was no rate hike, and that a September rate hike is not certain," Capital Economics analyst Simona Gambarini told Reuters.
Additionally, gold is getting a lift from a weaker dollar today. The metal is more expensive to foreign currency holders when the greenback is strong.
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.
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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