For December delivery, gold was falling 0.44% to $1,312.20 per ounce on the COMEX this afternoon.
The price of the precious metal was retreating today after data showed quicker-than-anticipated growth in U.S. consumer inflation last month, which helped boost the case for an interest rate hike this year, Reuters reports.
Gold is non-interest paying and struggles to compete with assets that offer a yield when interest rates are raised.
Inflation is an important factor the Federal Reserve takes into account when deciding on monetary policy, Reuters noted.
Additionally, gold is being pressured by a stronger dollar today. The metal is more expensive to foreign investors when the greenback is higher.
Barrick is a Toronto-based company engaged in the production and sale of gold.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share and increase in net income.
But the team also finds weaknesses including generally higher debt management risk and disappointing return on equity.
Recently, 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.
You can view the full analysis from the report here: ABX