For April delivery, gold is advancing by 0.87% to $1,115.20 per ounce on the COMEX this morning.
Demand for the precious metal is poised to recover this year as U.S. rate increases come more slowly than previously anticipated, while worries over economic growth and a weaker yuan prompt Chinese buying, Reuters reports.
"Slowing Chinese growth and the negative outlook for the yuan should benefit gold in the medium term, and once there are clear signs of a price recovery, or at least a stabilization, we should see investors coming back into the market," according to GFMS analysts at Thomson Reuters.
Additionally, the analysts expected to see two small rate hikes, rather than four this year, due to a weak economic recovery and the accommodating position of monetary policies outside of the U.S.
Gold, which is non-interest paying, struggles to compete with interest paying assets when interest rates are higher.
Barrick Gold is a Toronto-based gold mining company.
Separately, TheStreet Ratings Team has a "sell" rating with a score of D on the stock.
This is driven by a few notable weaknesses, which the team believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity and generally disappointing historical performance in the stock itself.
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