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Gold Fields (GFI) Stock Slides Amid Speculation of Interest Rate Hike

NEW YORK (TheStreet) -- Shares of Gold Fields (GFI) were falling 6.76% to $5.03 in late-afternoon trading on Friday as gold prices declined on renewed speculation that the Federal Reserve will soon increase interest rates.

Gold for December delivery was down 0.62% to $1,333.30 per ounce on the COMEX this afternoon.

The precious metal has been hurt by comments by Federal Reserve Bank of Boston President Eric Rosengren indicating that the central bank might raise interest rates as...