Gold for August delivery is retreating by 0.57% to $1,179.80 per ounce on the COMEX this afternoon.
The dollar is up by 0.57% this afternoon, according to The Wall Street Journal dollar index. The greenback is gaining on positive U.S. economic data.
"If we get further good data and the dollar appreciates, we wouldn't rule out a fall to $1,100 over the next couple of months until the Fed starts raising interest rates," Commerzbank analyst Daniel Briesemann told Reuters.
Goldcorp is a Vancouver, BC.-based gold producer that focuses on the acquisition, exploration, development, and operation of gold properties in the U.S., Canada, Mexico, and Central and South America.
Separately, TheStreet Ratings team rates GOLDCORP INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOLDCORP INC (GG) a SELL. This is driven by multiple 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, weak operating cash flow and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: