U.S. gold futures for August delivery were down 0.8% to $1,175.50 an ounce Thursday afternoon after hitting a one-month low of $1,174.90 an ounce earlier in the day.
Gold prices were falling ahead of the U.S. jobs report on Friday, according to Reuters. The U.S. Federal Reserve may soon raise interest rates for the first time nearly a decade depending on the data in the report, according to the news service.
"A lot of (gold's weakness) is pricing in expectations for a fairly positive non-farm payrolls reading tomorrow," Mitsubishi analyst Jonathan Butler told Reuters. "All things being equal, it should have been another pretty solid month of gains."
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 multiple 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 generally high debt management risk, weak operating cash flow, generally disappointing historical performance in the stock itself and unimpressive growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: