Barrick Gold Corp. Results Fall as Gold Bullion Continues its Slide

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Barrick Gold Corp., the world’s largest gold producer, released its fourth quarter results on February 18 and conducted a conference call with analysts on February 19. As expected, lower realized gold and copper prices, as well as lower gold shipments, negatively impacted the company’s Q4 results.

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The company’s adjusted net earnings, which exclude the impact of non-recurring items such as impairments, fell from $406 million in Q4 2013, to $174 million in Q4 2014. Revenues stood at $2.51 billion in Q4 2014, lower than the $2.94 billion in revenues reported in Q4 2013.

The day’s biggest mover was Indian silver, dropping 0.8% to settle at INR 36,567 ($588.17) per kilogram on Friday, February 20. The price of US silver closed at $16.39 per ounce. Following a couple days of improvement, prices fell by 0.7%. The price of Chinese silver showed little movement last Friday at CNY 3,640 ($581.83) per kilogram. The price of Japanese silver flattened at JPY 628.00 ($5.28) per 10 grams after two days of downward movement.

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At JPY 4,616 ($38.79) per gram, Japanese gold bullion fell 0.5% last Friday. The price of Indian gold bullion fell 0.4% to INR 26,655 ($428.74) per 10 grams. US gold bullion closed 0.2% lower at $1,208 per ounce. For the fifth consecutive day, the price of Chinese gold bullion held flat at CNY 247.91 ($39.63) per gram.

Japanese platinum bar ended the day at JPY 4,461 ($37.49) per gram, after the 0.5% drop last Friday. US platinum bar finished the day up 0.4% to $1,170 per ounce. The price of Chinese platinum bar remained essentially flat at CNY 259.00 ($41.40) per gram.

Japanese palladium bar stayed flat at around JPY 3,056 ($25.68) per gram. The price of US palladium bar held steady at $778.00 per ounce. The price of Chinese palladium bar was unchanged at CNY 174.00 ($27.81) per gram.

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