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Results: GOLD

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The Turgid Gold Price could Take Off at Last Making this Big Miner's Share Price Glitter

Hello Share Sailors. You’d think that with all the world’s economic turmoil caused by Covid, inflation, labour shortages and the like, the value of gold would be a lot higher than it is. It’s still under $2000 an ounce. There are plenty of analysts who think it will go up from here, helping companies like Barrick Gold (NYSE - GOLD). Its 2022 was plagued by higher expenses while gold price refused to move much. That might soon change.

My continuing love for Barrick Gold

One of the best things about not being an institutional fund manager (in my case for nearly nine years now) is being able to manage your own pension fund. One of the first shares that I purchased after switching all of my corporate pension fund away from the terribly boring investment structure that used to run it was Randgold Resources. The west and central Africa gold mining business had already been one of my top institutional holdings for about six years at that point although - if I recall - most other people thought I was a lunatic buying it, especially when there was a bit of political excitement in places such as Mali and the DRC. It was much better than buying an index fund then and that good run continued before it culminated with the company leaving the FTSE 100 index…as it had been purchased by the Canadian giant Barrick Gold (NYSE - GOLD). Very sensibly the Canadians asked the Randgold management team to run the whole business, so I took the shares rather than cash, which brings us four years later to today and full year 2021 numbers…

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