Gold prices surged $20 to cross the $1,200 per troy ounce mark for the first time in more than two weeks on Tuesday as the U.S. dollar weakened and drove investors toward the precious metal.
Gold futures for December delivery climbed 1.71% to hit an intraday high of $1,204.10 per troy ounce, the highest price since October 30, on the Comex division of the New York Mercantile Exchange.
Must Read: Warren Buffett's 25 Favorite Stocks
More than 3.3 million shares had changed hands as of 12:15 p.m., compared to the average volume of 5,412,480.
Separately, TheStreet Ratings team rates GOLD FIELDS LTD as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOLD FIELDS LTD (GFI) a SELL. This is driven by a few notable weaknesses, which we believe 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 we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and disappointing return on equity."