Spot gold prices were gaining 4.4% to $1,218.71 an ounce, and U.S. gold futures for December delivery were up $18.20 to $1,193.70 an ounce, according to Reuters.
The rebound comes after Swiss voters rejected a proposal to increase central bank gold holdings to 20% of its forex reserves on Sunday, which caused gold price to fall 2% before rebounding.
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The recent weakness of the Japanese yen stimulated some demand for gold, according to Reuters, which may have contributed to the rebound.
TheStreet Ratings team rates KINROSS GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate KINROSS GOLD CORP (KGC) a SELL. This is driven by multiple 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 unimpressive growth in net income, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: