Gold for December delivery was up 0.38% to $1,329.60 per ounce on the COMEX this afternoon.
The precious metal moved between gains and losses today following Federal Reserve Chairwoman Janet Yellen's speech at the annual Economic Policy Symposium in Jackson Hole, WY.
"In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal-funds rate has strengthened in recent months," Yellen said in prepared remarks.
Her speech indicates that the Fed could increase interest rates as early as September. However, analysts are not convinced that the central bank will hike rates soon, the Wall Street Journal reports.
The metal is non-interest paying and struggles to compete with assets that bear a yield when interest rates are raised.
But investor skepticism over a near-term rate hike bolstered prices for the precious metal this afternoon.
Gold Fields is a South African 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