The recovery in gold prices came after the European Central Bank left key interest rates unchanged, Reuters reports.
The bank said it plans to keep interest rates at current levels or lower as it attempts to encourage growth and inflation.
Gold doesn't bear interest and has more difficulty competing with yield-bearing assets when rates are higher.
Gold for August delivery is up 0.94% to $1,331.70 per ounce on the COMEX.
Previously, gold had been advancing on better than expected economic data, which left investors anticipating a rates increase from the Federal Reserve.
Toronto-based Kinross Gold is a gold mining company operating in the U.S., Chile, Brazil 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 KINROSS GOLD CORP as a Hold with a ratings score of C-. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall.