Gold for April delivery is rising 2.94% to $1,265.90 per ounce on the COMEX this afternoon.
The precious metal received a boost from the Federal Reserve's announcement on Wednesday that it would maintain interest rates, the Wall Street Journal reports.
The Fed's decision caused the dollar to weaken, which makes gold less expensive to foreign investors.
"The longer the Fed holds its fire in raising rates, the better for gold," James Steele, a strategist at HSBC, said in a note, according to the Journal. "Just as gold fell in expectations of rate increases, the bullion market may need to recalibrate as the likely number of rate hikes is reduced."
Based in Toronto, IAMGOLD is a mining company that operates four 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: IAG