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Barrack Gold (ABX) Stock Closed Higher Despite Lower Gold Prices

NEW YORK (TheStreet) --Shares of Barrack Gold (ABX) closed up 0.69% to $20.55 on Friday even though gold prices fell.

Gold prices came under pressure today amid speculation that U.S. monetary policy could be tightened before the end of the year, Reuters reports.

The precious metal is non-interest paying and has difficulty competing with assets that offer a yield when the Federal Reserve raises interest rates.

The central bank will release a policy statement next week after its July meeting.

Additionally, the dollar has gained recently on strong readings on the U.S. labor market and...