For December delivery, gold was rising 0.94% to $1,344.10 per ounce on the COMEX this morning.
Gold prices reached a two-week high today after the Federal Reserve decided to keep interest rates the same at its policy meeting yesterday, the Wall Street Journal reports.
The metal does not pay interest and struggles to compete with assets that offer a yield when interest rates are hiked.
But the central bank indicated the case for an interest rate increase by year end has become stronger.
"This move is based off where the Fed's at, and the fact that the next meeting is not until December," Bob Haberkorn, senior market strategist at RJO Futures, told the Journal, "We've got time to go here."
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