For April delivery, gold is up 0.74% to $1,266.60 per ounce on the COMEX this afternoon.
The metal is increasing today as the euro rallied from a six-week low against the dollar after the European Central Bank chief Mario Draghi suggested that further interest rate cuts in the euro zone are not likely, Reuters reports.
The ECB lowered interest rates and expand its bond-buying program in an effort to bolster growth and inflation in the currency bloc.
The bank reduced its main refinancing interest rate to zero from 0.05%, the interest rate on the marginal lending facility to 0.25% from 0.30%, and the interest rate on the deposit facility to -0.40% from -0.30%, TheStreet's Antonia Oprita wrote in RealMoney article this morning.
The euro fell sharply after the announcement, but then recovered after Draghi said further interest rate cuts are not necessary judging by the present current conditions, Oprita added.
"This was seen as maybe a prelude to further stimulus, but the fact that there has now been a line drawn under that is giving some comfort to the euro, and therefore to gold," Mitsubishi analyst Jonathan Butler told Reuters.
IAMGOLD is a Toronto-based mining company with four operating gold mines.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
This is driven by a few notable weaknesses, which 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 covered.
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.
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.
You can view the full analysis from the report here: IAG