For August delivery, gold is retreating 0.13% to $1,356.60 per ounce on the COMEX this afternoon.
The price of the yellow metal is dropping today as stock markets gain following Friday's strong U.S. jobs data and the prospect of further monetary stimulus from central banks, Reuters reports.
A stronger dollar also pressured gold. The metal is more expensive to foreign currency holders when the greenback is firmer.
"New highs in U.S. bonds and the stronger than expected jobs report have raised the odds of a rate hike later this year," Saxo Bank head of commodities research Ole Hansen told Reuters.
"But the strong response to the weakness post non-farmpayrolls on Friday was a clear signal that buyers are still lurking around, waiting for the opportunity to pick gold up cheaper," Hansen added.
Gold is non-interest paying and has difficulty competing with assets that offer a yield when interest rates are hiked.
IAMGOLD is a Toronto-based company engaged in the exploration, development and production of mineral resource properties.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and poor profit margins.
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.
You can view the full analysis from the report here: IAG