Gold for April delivery is increasing 1.78% to $1,233 per ounce on the COMEX this afternoon.
The three-day rally in U.S. equities ended after retail and oil stocks dropped, increasing gold's appeal as a safe haven, Reuters reports.
"While equities are starting to come back and oil's shown a little bit of life, gold is strengthening as the day goes on," RJO Futures senior market strategist Bob Haberkorn told Reuters. "The sentiment in gold right now is overwhelmingly bullish."
Shares of IAMGOLD are also increasing after the company delivered better than expected revenue for the 2015 fourth quarter on Wednesday after the market close.
Revenue declined 12.6% year-over-year to $238.2 million, but analysts surveyed by Thomson Reuters had estimated $218.6 million in revenue for the latest quarter.
The Canadian gold mining company also posted a loss 16 cents per share, missing estimates of a loss of 10 cents per share.
Separately, IAMGOLD has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's weaknesses, such as poor profit margins and weak operating cash flow.
You can view the full analysis from the report here: IAG
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.IAG data by YCharts