Gold prices are slipping ahead of the Federal Reserve's meeting this week, which could provide insight into when the Fed will raise interest rates again, the Wall Street Journal reports.
Gold struggles to compete with interest-bearing assets when interest rates are raised.
"Gold is somewhat unsettled ahead of this week's [Fed] and Bank of Japan meetings," Kitco Markets said in a note, according to the Journal, "Traders will once again dissect the tone in an attempt to glean clues on the timing of the Fed's next trigger pull."
Gold for April delivery is falling 1.39% to $1,241.90 per ounce on the COMEX this afternoon.
Based in South Africa, Gold Fields is a gold producer with mines in Australia, Ghana, Peru and South Africa.
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 deteriorating net income, disappointing return on equity and feeble growth in its earnings per share.
You can view the full analysis from the report here: GFI