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Will Goldcorp (GG) Stock Be Hurt by Lower Gold Prices?

NEW YORK (TheStreet) -- Shares of Goldcorp (GG) are advancing 0.88% to $18.30 on Friday afternoon even though gold prices are retreating.

For August delivery, gold is down 0.59% to $1,323.20 per ounce on the COMEX this afternoon.

The price of the metal is falling today amid profit-taking and higher appetite for risk in stock markets, the Wall Street Journal reports.

Gold is traditionally seen as a safe-haven asset.

This week, gold prices dropped to a three-week low as investors' concerns over the global economy have subsided.

Additionally, traders are looking to the Federal Reserve's policy...