Why Eldorado Gold Stock Was Diving This Week

With the price of its favorite precious metal declining, Eldorado Gold (NYSE: EGO) stock has taken it on the chin over the past few trading days. According to data compiled by S&P Global Market Intelligence, the mining company's shares were down almost 13% week to date as of early Friday morning.

Gold is currently on a losing streak due to several factors. Chief among these is the growing expectation from analysts and economists that the Federal Reserve (Fed) will raise interest rates in the coming months. After all, inflation is still a problem -- not least because of the economic fallout of the war with Iran -- and the primary remedy for a central bank is higher rates.

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As rates rise, the attractiveness of non-yielding assets such as gold declines, which in turn helps fuel the sell-offs we've seen over the past few days. Compounding that, as the temperature seems to be cooling in the U.S.-Iran negotiations to

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/commodities/articles/why-eldorado-gold-stock-diving-090352980.html)