NEW YORK (TheStreet) -- Shares of Eldorado Gold Corp. (EGO) are up by 3.05% to $6.09 in late afternoon trading on Tuesday, as gold mining and related stocks get a boost thanks to the rise in price of the precious metal.
Gold for February delivery is climbing by 1.45% to $1,199.00 per ounce on the COMEX this afternoon.
The rise in gold price is due to a weak dollar, which is down 0.54% on the Wall Street Journal dollar index.
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Concerns regarding the outcome of the Greek election and tensions between Russia and the West also contributed to the rise in gold, CNBC.com reports.
However, analysts warn that the jump in gold is only temporary and are predicting new lows for the commodity in 2015.
"I think it's going lower," an analyst from Oppenheimer Asset Management told CNBC.com. "I think a lot of these commodities that are priced in dollars are going to be pressured here. It's going to keep going lower, and I would expect new lows in 2015. I think there's a risk you could see $1,000."
Separately, TheStreet Ratings team rates ELDORADO GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) 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 weak operating cash flow."