Gold for June delivery is down 0.46% to $1,247.10 per ounce on the COMEX this afternoon.
Gold prices have been falling since last week when Fed minutes indicated interest rates could rise next month, boosting the value of the dollar and making dollar-denominated commodities, such as gold, more expensive to hold abroad, Reuters reports.
"In the longer term we are not on a massively negative path for gold here because the Fed is only likely to raise rates gradually but in the shorter term a stronger dollar and uncertainty about the hike timing could weigh on gold," Danske Bank senior analyst Jens Pedersen told Reuters.
Toronto-based IAMGOLD is a gold mining company with operations in Canada, Suriname, Mali and other countries.
Separately, IAMGOLD has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: IAG
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.