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NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) were higher in mid-afternoon trading on Tuesday, reflecting the uptick in gold prices. 

For December delivery, gold was rising 0.43% to $1,347 per ounce on the COMEX this afternoon.

Gold prices received a boost today from a weaker dollar, MarketWatch reports. When the dollar is stronger, gold is more expensive to foreign investors and thus demand declines and the price drops.

Gold prices had been trading in the red after data from last week showed better-than-expected jobs data, which raised expectations that the Federal Reserve will hike interest rates, MarketWatch said. 

Gold is non-interest paying and has difficulty competing with assets that offer a yield when interest rates are raised.

"There has been record buying of gold exchange traded funds (ETFs) since Friday and this is sign of a healthy market," Maxwell Gold of ETF Securities told MarketWatch. 

Barrick Gold is a Toronto-based gold mining company.

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Separately, 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.

TheStreet Ratings team rates Barrick Gold as a Hold with a ratings score of C. The primary factors that have impacted the team's rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.

You can view the full analysis from the report here: ABX

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