Gold prices rallied $20 to cross the $1,200 per troy ounce mark for the first time in more than two weeks on Tuesday as the U.S. dollar weakened and drove investors toward the precious metal.
Gold futures for December delivery climbed 1.71% to hit an intraday high of $1,204.10 per troy ounce, the highest price since October 30, on the Comex division of the New York Mercantile Exchange.
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More than 12.4 million shares had changed hands as of 12:49 p.m., which edged the daily average volume of 12,316,300.
Separately, TheStreet Ratings team rates BARRICK GOLD CORP as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BARRICK GOLD CORP (ABX) a SELL. This is driven by several weaknesses, which we believe 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 we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."