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.
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.
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.