Gold prices fell slightly on Monday, as the dollar gained traction against major currency rivals, on signs the Federal Reserve is preparing to tighten monetary policy for the first time in six years in 2015.
Fed Chair Janet Yellen indicated on Friday that the US central bank was poised to raise rates this year, with the world’s biggest economy set to bounce back from an early-2015 slump.
Higher US interest rates increases the opportunity cost of holding non-yielding bullion. Liquidity was thin with British and US markets shut for holidays.
“The Fed raising the rates is certainly not electrifying news for the precious metal, which is on track to extend its biggest weekly decline since April,” AvaTrade chief market analyst Naeem Aslam said.
IAMGOLD Corp (USA) (NYSE:IAG) share price increased in the last trading session with a previous 52-week high of $4.27. The stock was trading on above-average volume. The stock traded at a volume of 3.42 million shares at a price decline of -1.38%. The share price is now down -10.08% for the past three months. Latest closing price was 1.12% above its 50-day moving average and -17.02% below its 200-day moving average.
While trading at volume lower than average, Yamana Gold Inc. (USA) (NYSE:AUY) plunged -1.31% at the end of recent close. Its previous 52-week high was $8.92 and moved down -57.62% over the same period, trading at a volume of 4.02 million. Shares have fallen -3.82% over the trailing 6 months. The stock is currently trading -1.88% below its SMA 50 and -22.24% below its SMA 200.
Kinross Gold Corporation (USA) (NYSE:KGC) closed at $2.41, down -1.23% from previous close and at a distance of -1.26% from 20-day simple moving average. Over the last 12 months, a return on equity of -22.00 percent was realized due to the financial situation and earnings per share reached a value of $-1.26.
Source: http://www.wsobserver.com/
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