Barrick Gold (ABX) Falls Along with Gold Prices

Barrick Gold (NYSE:ABX), along with most other gold miners, fell again in Wednesday trading, as gold price came under pressure in the ongoing volatile market conditions.

Gold for June delivery dropped $15.50 to settle at $1,501.40 at the Comex division of the New York Mercantile Exchange. The gold price Wednesday traded as high as $1,526.80 and as low as $1,495.40.

Gold lost 1 percent overall and silver plunged close to 8 percent on a broad commodity sell-off, as the U.S. dollar index climbed over 1 percent to $75.41, as the euro was weakened by the seemingly endless sovereign debt crisis in Europe that isn't going away.

Gold and silver also garnered no support from rising inflation data. China said prices dropped to 5.3 percent in April from 5.4 percent in March, but that number was higher than the 5.2 percent looked for.

The Bank of England said that inflation could hit 5 percent in 2011.

Silver prices dropped almost $3 to close at $35.51 an ounce.

Barrick Gold Corporation participates in the production and sale of gold, along with exploration and mine development.

Barrick Gold (ABX) closed Wednesday at $45.55, falling $2.10, or 4.41 percent.