Gold for December delivery is up 0.23% to $1,367.90 per ounce on the COMEX this afternoon.
The increase in gold prices is a result of the Bank of England cutting interest rates for the first time since 2009, Reuters reports.
When interest rates are lower, gold prices tend to rise because gold is non-interest paying and struggles to compete with assets that bear a yield when rates are higher.
"The revision in expectations for monetary policy in the U.S., Japan, the euro zone and the UK has played a big role in the rise in the gold price so far this year, and we expect it to continue," Capital Economics analyst Simona Gambarini told Reuters.
Gold Fields is a Johannesburg, South Africa-based gold mining company.
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 team rates Gold Fields 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 the team covers.
You can view the full analysis from the report here: GFIGFI data by YCharts