Gold for April delivery is dropping by 2.24% to $1,220.80 per ounce on the COMEX this morning.
The precious metal is being pressured by a stronger dollar, which makes gold more expensive to foreign investors, the Wall Street Journal reports.
Gold prices climbed on Tuesday after terrorist attacks in Brussels spurred safe-haven investing.
"With the long weekend looming and the market overly long, this [drop] is a perfectly understandable and somewhat overdue move, as we see profit-taking and book squaring ahead of Easter," David Govett, head of precious metals at Marex Spectron, told the Journal.
Based in Toronto, IAMGOLD is a mining company that operates four gold 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. This is driven by some concerns, which we believe 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 we cover. 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