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Yamana Gold (AUY) Stock Increases on Higher Gold Prices

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.