Gold for December delivery was down 1.67% to $1,344.60 per ounce on the COMEX and September silver was sliding 3.34% to $19.76 per ounce.
The commodity metals are on the decline today following upbeat data from the U.S. Labor Department indicating that the U.S. created 255,000 new jobs in July, outpacing expectations of 185,000, MarketWatch reports.
The July jobs report is now the second-straight healthy jobs figure in a row following an unexpected May report of only 11,000 new jobs.
The new data has given investors cause to believe that the Federal Reserve could raise interest rates during its next meeting in September, as the economy appears to be on a stronger foundation.
Gold and silver tend to far poorly when interest rates are raised as investors flock to assets that provide high yields.
Also weighing on the commodity metals' prices today is a stronger U.S. dollar.
Hecla Mining is a Coeur D Alene, ID-based gold, silver, lead and zinc 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 rated this stock as a "hold" with a ratings score of C.
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 expanding profit margins. However, TheStreet Ratings finds weaknesses including disappointing return on equity, weak operating cash flow and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: HL