Gold for April delivery is up by 0.85% to $1,268.90 per ounce on the COMEX this afternoon.
Gold prices are rising after the release of U.S. jobs data on Friday, which showed that average hourly earnings and wages declined during February, the Wall Street Journal reports.
The data makes it less likely for the Federal Reserve to raise interest rates, according to the Journal. Gold struggles to compete with interest-bearing assets when rates are raised.
"The gold market is definitely in an uptrend here," Peter Hug, global trading director at Kitco Metals, told the Journal. "There is plenty to worry about out there, and gold's recent performance is attracting more investors."
Based in Toronto, IAMGOLD is a mid-tier mining company with four operating mines.
Separately, recently, 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.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: IAGIAG data by YCharts