The price of the precious metal fell on a stronger dollar and as traditional risk assets looked more appealing to bidders one day after a global selloff in stocks, MarketWatch reports.
Additionally, the minutes from the latest Fed meeting showed that policy makers debated raising interest rates in April, CNBC.com says. However, the majority believes that the risks from the global economic slowdown is cause for a cautious approach.
Gold tends to struggle to compete against interest bearing assets when rates rise as the metal offers no yield to those that hold it.
"Many participants expressed a view that the global economic and financial situation still posed appreciable downside risks," the minutes from the March 15-16 meeting read, CNBC.com added.
Gold Field 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.
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.
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 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