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Barrick Gold (ABX) Stock Slumps as Gold Hits Two-Month Low

NEW YORK (TheStreet) -- Shares of Barrick Gold (ABX) were declining on heavy trading volume late Wednesday afternoon as gold prices touched their lowest level in more than two months earlier today.

Gold for December delivery was down 0.29% to $1,312.70 per ounce on the COMEX this afternoon, weighing on shares of the Canadian gold producer.

The precious metal is being pressured by expectations that the Federal Reserve will hike interest rates in coming months. A strong employment report tomorrow would strengthen the case for a rate increase, analysts said...