The precious metal is spiking as the dollar weakens due to disappointing retail data issued on Wednesday. The soft dollar raised speculation that the Fed won't increase interest rates as soon as previously expected, CNBC.com reports.
Gold for June delivery is up by 0.35% to $1,222.70 per ounce on the COMEX this morning.
"The main catalyst was the retail sales slumping. It disappointed a wide audience. Because of that, a rush was back into gold as the dollar sold off hard. It looks like [we] won't see a rate increase in the immediate future", Phillip Streible, senior market strategist at RJO Futures, told CNBC.com.
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 a number of negative factors, 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 generally high debt management risk, weak operating cash flow, generally disappointing historical performance in the stock itself and unimpressive growth in net income."