For December delivery, gold was down 1.14% to $1,330.70 per ounce on the COMEX this morning.
The price of the yellow metal is being pressured by a stronger dollar today. Gold is more expensive to foreign currency holders when the greenback is strong.
Market participants are also awaiting Federal Reserve Chairwoman Janet Yellen's speech in Jackson Hole, WY later this week. The speech will be closely monitored for further clues on U.S. interest rate hikes, Reuters noted.
Gold is non-interest paying and struggles to compete with assets that offer a yield when interest rates are increased.
"Based on market pricing, it seems there is a general expectation for a December move, so (the statement) would have to be quite hawkish for markets to bring forward that expectation to September," UBS analyst Joni Teves told Reuters, "Heading into a Fed rate hike, gold is likely to come under pressure."
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