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Barrick Gold (ABX) Stock Lower as Gold Prices Decline

NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) were decreasing in late-afternoon trading on Monday as gold prices dropped.

Gold prices were falling today amid rising expectations for an interest rate hike this year, Reuters reports.

Fed policymaker Stanley Fischer said yesterday that the Federal Reserve is close to reaching its targets for full employment and 2% inflation.

The precious metal pays holders nothing, making it less attractive compared to assets that offer a yield when interest rates are increased.

Market participants are...