Gold for April delivery is down 1.55% to $1,253.10 per ounce on the COMEX this afternoon.
The dollar recovered after declining against the euro yesterday because of an interest rate cut in the euro zone, Reuters reports.
Gold prices tend to fall when the dollar rises because it makes the dollar-denominated precious metal more expensive to hold abroad.
"In the longer term, gold will probably stay above $1,200, around the $1,250 area, while $1,300 represents a strong resistance level," ETF Securities analyst Martin Arnold told Reuters.
Canada-based Barrick Gold is a mining company with 14 gold mines in the U.S., Peru, Canada, Argentina, Australia, the Dominican Republic and Papua New Guinea.
Separately, Barrick Gold has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's disappointing return on equity, poor profit margins and generally high debt management risk.
You can view the full analysis from the report here: ABX
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 article's author.