For December delivery, gold was down 2.53% to $1,279.50 per ounce on the COMEX this afternoon.
Gold prices dropped to their lowest level in over three months today as the dollar was stronger. The metal is more expensive to foreign investors when the greenback is higher.
Additionally, gold was pressured by indications that the Federal Reserve may be closer to hiking interest rates before year end, the Wall Street Journal reports.
The precious metal does not pay interest and can struggle to compete with assets that offer a yield when interest rates are increased.
Investors are also looking ahead to Friday's jobs data. A strong report could boost the case for a rate hike in December and weigh on gold prices, according to analysts cited by the Journal.
"I think any strength of the U.S. economy is going to be negative for gold," John Davies, a global industry strategist at BMI Research, told the newspaper
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. 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.
But the team also finds weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.
Recently, 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.
You can view the full analysis from the report here: NEM