Yamana Gold (AUY) stock is up alongside gold prices on Tuesday as the market awaits more clues from the Federal Reserve on interest rate hikes.
NEW YORK (TheStreet) — Shares of Yamana Gold (AUY) were edging up in mid-morning trading on Tuesday as gold prices traded in the green.
For December delivery, gold was advancing 0.22% to $1,346.40 per ounce on the COMEX this morning.
Gold price were higher today after reaching a two-week low yesterday as investors await more signals from the Federal Reserve on future interest rate hikes, Reuters reports.
The precious metal is non-interest paying and struggles to compete with assets that offer a yield when interest rates are raised.
Fed Chairwoman Janet Yellen could give more clarity on interest rate increases at a speech in Jackson Hole, WY later this week.
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Article from The Street.