The price of the precious metal is reversing yesterday's rally as the dollar strengthens. Gold can become more expensive to those that hold other currencies as the greenback rises.
Gold for April delivery is down by 0.87% to $1,254.00 per ounce on the COMEX this morning.
"The basic reason [for the fall] is the dollar is a little stronger today," David Govett, head of precious metals at Marex Spectron told the Wall Street Journal.
Gold spiked on Thursday following the Fed meeting. The central bank reduced its estimates for raising interest rates and issued a cautious outlook on the global economy.
"The longer the Fed holds its fire in raising rates, the better for gold," HSBC strategist James Steele said in a note, the Journal said. "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."
Gold Fields is a Johannesburg, South Africa-based producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa.
Separately, TheStreet Ratings has set a "sell" rating and a score of D on Gold Fields stock. This is driven by several weaknesses, which TheStreet Ratings believes 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 it covers.
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.
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: GFI