Gold for December delivery was recently declining 1.20% to $1,253.40 per ounce on the COMEX.
The precious metal hit a four-month low today as upbeat U.S. economic data increased the likelihood that the Federal Reserve will soon hike interest rates.
Jobless claims fell by 5,000 to 249,000 in the week ended October 1, according to a Labor Department report. This marks the second-lowest level of filings for unemployment benefits since 1973, according to Bloomberg.
Analysts were anticipating 256,000 initial jobless claims, Bloomberg notes.
Investors now believe that there is a 63.9% chance that the central bank will raise interest rates in December, up from slightly below 60% yesterday, according to Fed-funds futures cited by the Wall Street Journal.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Barrick Gold's strengths such as its solid stock price performance, growth in earnings per share and increase in net income are countered by weaknesses including generally higher debt management risk and disappointing return on equity.
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.