Comment on Kinross Gold (KGC) Stock Higher as Gold Moves Over $1,200 per Ounce Today

NEW YORK (TheStreet) -- Shares of Kinross Gold are up by 1.97% to $2.34 in late afternoon trading on Tuesday, as some mining and related stocks get a boost due to the rebound in gold prices. Gold for June delivery is rising by 0.65% to $1,201.50 per ounce on the COMEX this afternoon. The precious metal is gaining today as tensions in the Middle East and concerns over Greece's debt crisis increase safe-haven investment demand, MarketWatch reports, adding that global trading director at Kitco Metals Peter Hug said short term gold prices could move above the $1,207 level if issues in the Middle East continue. Regarding Greece, European Central Bank staff said it was looking into a variety of contingency plans for both an "orderly" and "disorderly" default by the country, CNBC.com reported today. "We have too much ambiguity in the market and this is playing in favor for gold," AvaTrade chief marketing analyst Naeem Aslam told MarketWatch. Separately, TheStreet Ratings team rates KINROSS GOLD CORP as a Sell with a ratings score of D.