Gold for February delivery was down 1.23% to $1,192.90 in late morning trading on the COMEX today.
Yesterday, gold futures showed the longest slump in five weeks, due to concerns the Federal Reserve is closer to raising U.S. interest rates, which would slow down demand for gold as an alternative investment, Bloomberg reported.
Separately, 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 several 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."