U.S. gold futures for August delivery were lower by 0.4% to $1,181 an ounce as of 2:07 p.m. ET today, while spot gold was nearly flat at $1,181.45 an ounce.
Gold prices are lower due to the stronger dollar ahead of the U.S. Federal Reserve policy meeting announcement, according to Reuters.
"Gold is weaker because people are still thinking that the U.S. economy is recovering," Citigroup strategist David Wilson told Reuters.
The Federal Open Market Committee begins its two-day policy meeting today.
Fed chair Janet Yellen has said the committee plans to raise interest rates this year. Economists believe the Fed will hike rates for the first time in nearly a decade in September.
Canada-based Kinross is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties.
Separately, 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 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 and generally disappointing historical performance in the stock itself."