Gold for February 2015 delivery was down 1% to $1,188 an ounce on the Comex early Wednesday afternoon.
Prices of the precious metal increased Tuesday after investors' concerns over tensions between Russia and Western countries caused the dollar to weaken, according to Fox Business. The strength of the dollar was unchanged Wednesday.
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ABN Amro commodity strategist Georgette Boele told Fox Business that "a new drop in gold prices driven by a stronger dollar and higher U.S. interest rate expectations is likely in 2015, when we see prices average $1,000 an ounce."
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 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 unimpressive growth in net income, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."