For August delivery, gold is increasing by 0.05% to $1,217.30 per ounce on the COMEX this morning.
Although gold prices are gaining ground today, the metal is still poised for its largest monthly drop since November amid broad strength in the dollar and rising expectations of an interest rate hike, Reuters reports.
The non-interest-paying metal struggles to compete with assets that offer a yield when the Federal Reserve raises interest rates.
"Short-term downside risks are primarily related to a further strengthening of the U.S. dollar and a further cooling of futures market sentiment," Julius Baer wrote in a note cited by Reuters.
Gold is more expensive to foreign currency holders when the greenback is strong.
Barrick Gold is a Toronto-based company engaged in the production and sale of gold, as well as related activities, such as exploration and mine development.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
The primary factors that have impacted our rating the mixed. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and good cash flow from operations.
However, the team also finds weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ABX