Gold stocks down because:
NEW YORK (TheStreet) -- Shares of Gold Fields Ltd. (GFI) are falling by 3.52% to $5.75 in early afternoon trading on Tuesday, as gold stocks slump today following Barclays assessment that the price of the precious metal will test out new lows in 2015, Reuters reports.
The firm is suggesting that gold prices will continue to struggle with a stronger dollar and that the precious metal will be negatively affected by the Fed's first interest rate increase in nine years.
Barclays has estimated that gold prices will average $1,170 per ounce in 2015, a decrease from its previous forecast of $1,150 per ounce. For 2016 Barclays sees the price of gold at $1,150 an ounce, Reuters added.