The price of gold had slipped to a three-week low earlier today, but recovered later this morning as the European Central Bank (ECB) left key interest rates unchanged, Reuters reports.
The ECB maintained low interest rates in an attempt to restore growth, and said it plans to keep the rates at the same level or lower for an extended period.
Gold doesn't bear interest and has more difficulty competing with yield-bearing assets when rates are higher.
Gold for August delivery is up 0.86% to $1,330.70 per ounce on the COMEX.
Gold Fields is a South Africa-based gold mining company with operations in Peru, Ghana, Australia and other countries.
Separately, 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 has this to say about the recommendation:
We rate GOLD FIELDS LTD as a Sell with a ratings score of D+. This is driven by multiple weaknesses, 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, poor profit margins, weak operating cash flow and feeble growth in its earnings per share.
You can view the full analysis from the report here: GFIGFI data by YCharts