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Actionable news in ABX: BARRICK GOLD Corp,

One Reason Why Barrick Gold (ABX) Stock is Falling Today

NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX - Get Report) are down by 4.39% to $8.05 in midday trading on Monday, as gold prices trade in the red this afternoon, giving back today's earlier gains and weighing on some metals and mining stocks.

Gold for February delivery is lower by 0.16% to $1,096.20 per ounce on the COMEX this afternoon.

Barrick Gold is a Toronto-based gold mining company that produces and sells gold and copper.

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Last week, gold saw strong demand and moved above $1,100 per ounce as investors sought a safe haven due to the economic uncertainty in China.

However, the better than expected jobs report that was released on Friday is supporting the belief that the Federal Reserve may have further reason to once again boost interest rates in 2016, MarketWatch reports.

"Regardless of recent gains, this metal remains fundamentally bearish and with December's impressive [jobs] report reinforcing the possibility that U.S. rates could be increased...