Gold for August delivery is higher by 2.07% to $1,201.10 per ounce on the COMEX this morning.
The precious metal is climbing following a retreat in the dollar and as the Fed says it will raise interest rates at a slow pace, MarketWatch reports.
It is possible that in September the Federal Reserve will hike up interest rates for the first time since 2006.
"(The Fed was) a bit more dovish than the market had expected considering the improvement in economic data since the last meeting. Two quarter-percentage-point hikes before the end of the year could easily become just one if Greek worries, a strong dollar and low inflation outlook continue," Ole Hansen, an analyst at Saxo Bank told Reuters.
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 a number of negative factors, 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."