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Yamana Gold (AUY) Stock Gains with Gold Ahead of Fed Statement

NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) are climbing 4.4% to $5.70 late Wednesday morning as gold prices rise.

For December delivery, gold is up 0.44% to $1,334.10 per ounce on the COMEX this morning.

Traders are awaiting the outcome of a two-day Federal Reserve policy meeting later today, which will be closely monitored for clues into the pace of interest rate increases this year, Reuters reports.

Gold is non-interest paying and struggles to compete with assets that bear a yield when...