Gold for June delivery is sliding by 2.16% to $1,266 per ounce on the COMEX this afternoon.
The greenback was recently up by 0.6% at 86.82 against a basket of other currencies, the Wall Street Journal reports.
The precious metal was losing momentum from last week's gains when the Federal Reserve hinted that it would take its time raising short-term interest rates.
Additionally, since gold prices have reached the highest level in around two years, this means more bearish bets may enter the market, the Journal noted.
Based in Toronto, IAMGOLD explores for, develops, and operates mining properties in North and South America, and West Africa.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade 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.
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 article's author.
You can view the full analysis from the report here: IAG