Gold for December delivery was down 0.74% to $1,347.30 per ounce on the COMEX.
The precious metal was falling as the dollar gained, making gold and silver more expensive and therefore less attractive to foreign investors.
Earlier this week, minutes from the July Federal Reserve meeting were released and seemed to indicate that policymakers were torn about when and to what extent to increase rates. Gold climbed as uncertainty rose.
This morning, however, San Francisco's Fed Chief John Williams said that the central bank was planning to hike interest rates during its next meeting in September, Bloomberg reports.
Gold fell following his comments, as the metal fares poorly when rates are hiked and investors flee to assets with yields.
Gold Fields, based in Sandton, South Africa, is a 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 rated this stock as a "sell" with a ratings score of D+.
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: GFI