Gold for December delivery was recently down 3.13% to $1,271.60 per ounce on the COMEX, as a stronger dollar and indications that the central bank could soon hike interest rates negatively impacted the commodity.
Investors believe that there is a 63% chance that the Federal Reserve will increase interest rates in December, up from 61.6% yesterday, according to CME data cited by the Wall Street Journal.
"This is definitely a nervous market here," Bob Haberkorn, a broker at RJO Futures, told the Journal.
Additionally, a stronger dollar tends to be a negative for dollar-priced commodities like gold that become more expensive to foreign buyers.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.
Goldcorp's strengths such as its solid stock price performance and largely solid financial position with reasonable debt levels by most measures are countered by weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: GG
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 article's author.