For December delivery, gold was down 0.31% to $1,256.50 per ounce on the COMEX this afternoon.
A stronger U.S. dollar was weighing on the metal today. Gold is priced in the greenback and becomes more expensive and less attractive to foreign buyers when the dollar rallies.
Additionally, the dollar was gaining on Tuesday amid growing speculation that the Federal Reserve would hike interest rates later this year.
Chicago Fed President Charles Evans said earlier today that he "could be fine" with increasing rates in December, Reuters notes.
Gold struggles to compete in high interest rate environments as investors flock to assets that provide a yield.
Analysts are looking for the minutes from the latest Federal Reserve Open Market Committee to give further insight into the central bank's future fiscal policy, Reuters reports. The minutes will be released on Wednesday.
Kinross Gold is a Toronto-based 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 "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 solid stock price performance. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive.
You can view the full analysis from the report here: KGC