For April delivery, gold is gaining by 1.01% to $1,107.40 per ounce on the COMEX this morning.
The price of the precious metal is increasing as the dollar moves lower on retreating oil prices and concerns about the global economy, Reuters reports.
Additionally, the Federal Open Market Committee meets on Wednesday and is expected to keep its federal funds rate unchanged at 0.25% to 0.50%. Gold is non-interest paying and struggles to compete with interest paying assets.
"Gold's technical picture is slowly improving but a more sustained rally could only be confirmed by a break above $1,112-$1,113," ActivTrades chief analyst Carlo Alberto de Casa told Reuters.
The Toronto-based gold producer is engaged in gold mining and related activities, including exploration, extraction, processing and reclamation.
Separately, TheStreet Ratings Team rates Yamana Gold as a "sell" with a score of D.
This is driven by some concerns, which the team believes 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 it covers.
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.
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: AUY