Will Barrick Gold Stock Glitter After Dropping 25% In Six Months?

Will Barrick Gold Stock Glitter After Dropping 25% In Six Months?

Share to Linkedin BARRICK- 12/22/05 - Canada's two biggest gold miners announced a merger to create the world's number ... [+] one gold producer. left to rt. Greg Wilkins CEO of Barrick Gold Corporation and CEO of Placer Dome Peter Tomsett with a new version of Barrick logo behind them. they placed the together on the sign. Photo taken at Barrick offices on Bay St in the Canada Trust Tower. (Photo by Michael Stuparyk/Toronto Star via Getty Images) Barrick Gold stock (NYSE: GOLD) dropped 25% in the last 6 months and currently trades at $21. The decline in stock price was mainly driven by weakness in gold prices. After registering a sharp rise from $1, 500/ounce in January 2020 to over $2, 000/ounce in September 2020, gold prices have since then remained volatile and have, in fact, largely declined. Weakness in the gold price was driven by gradual lifting of lockdowns, which led to expectations of faster economic recovery. Additionally, the successful rollout of a vaccine has led to overall positive sentiment in the market, in turn affecting prices of precious metals. The price of gold currently stands at $1, 727/ounce, marking a decline of 14% since its September 2020