NEW YORK (TheStreet) --Shares of Eldorado Gold (EGO) are down by 4.22% to $4.88 in late afternoon trading on Tuesday, as some mining and related stocks take a hit as gold price fall today, although the price of the precious metal has remained above the $1,200 per ounce mark.
The yellow metal is declining due to a strong dollar, up by 0.97%, according to The Wall Street Journal dollar index.
Gold for June delivery is lower by 1.61% to $1,207.90 on the COMEX this afternoon.
The dollar rallied after the European Central Bank said it is ready to boost inflation if current quantitative easing measure prove to be ineffective, The Journal said, adding that the move would weaken the euro.
On Wednesday the Fed will release the minutes from its latest monetary policy meeting and investors will be looking for signs as to whether or not the central bank will move to raise interest rates sooner rather than in the latter half of the year, as has been previously speculated.
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 some concerns, 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 and generally disappointing historical performance in the stock itself."