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Yamana Gold (AUY) Stock Down on Lower Gold Prices

NEW YORK (TheStreet) -- Shares of Yamana Gold (AUY) were falling in late-morning trading on Friday as gold prices retreated.

For December delivery, gold was dropping 0.58% to $1,349.30 per ounce on the COMEX this morning.

The price of the yellow metal is declining today amid conflicting indications from Federal Reserve officials on the timing of a potential interest rate increase, Reuters reports.

Gold is non-interest paying and struggles to compete with assets that offer a yield when interest rates are raised.

"We have had conflicting statements from...


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