Gold for February delivery is down 1.16% to $1,182.10 per ounce on the COMEX this afternoon.
The precious metal is trading below the $1,200 mark as volatility reaches an 11-month high. The gauge of 60-day volatility reached 18.1 on Tuesday, December 16, its highest level since January 10, Bloomberg reports.
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"The overall environment is very negative for gold. The market will remain volatile as trading will be very thin for the next two weeks," a senior commodity broker at R.S. O'Brien & Associates told Bloomberg.
Separately, TheStreet Ratings team rates YAMANA GOLD INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAMANA GOLD INC (AUY) 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 feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."