Timing is Everything for Barrick Gold
NEW YORK, January 22, 2013
NEW YORK, January 22, 2013 /PRNewswire/ --
As analysts and investors continue to extend their bullish views toward gold,
Barrick Gold is looking to gain a head start after completing its Pueblo Viejo
mine site in Dominican Republic.
With gold production going live in Pueblo Viejo, Barrick Gold Corporation
(NYSE: ABX) [ Full Research Report ] ^(1) is certainly off to a great start
this year. With a 60% stake in its partnership with Goldcorp Inc., Barrick can
ramp-up an average of 500,000-650,000 ounces of the precious metal per year.
Pueblo Viejo is reported to hold 25.3 million ounces of reserves as of
Barrick's focus on Pueblo Viejo is a strategic move to counter higher
production costs in South Africa. This also serves to be a bright opportunity
for the corporation to recover from African Barrick Gold's bear inflection
after its full-year drop of 9% last year. Operating in one of the world's
largest gold assets may help Barrick to achieve a more lustrous performance in
2013 and beyond.
The company expects production to pick up pace by the second half of 2013. The
odds seem to be in favor of Barrick, as analysts anticipate a significant
improvement in the US economy during Q3 and Q4. The US economy and Barrick
treading at the same pace is perfect timing as economic conditions continue to
improve. However, some analysts project that economic improvement may lower
the value of gold.
As one of the world's key markets for gold, India remains a point on the map
for economic consideration. Amid speculation that India may increase taxes on
gold imports, companies are looking toward stronger US economic performance
which would drive consumer spending and investment, possibly offsetting the
India factor. Although this is a careful balance, as too much recovery could
cause an exodus from the "safe metal".
Regardless of economic climate, analysts and investors expect gold to be a
performer in the market this year. Whether it is a hedge-against-risk or a
personal investment, Barrick has greater chances of contributing and earning
from the global market. Until Pueblo Viejo is on full-production and the
global economic climate changes, only time will tell if Barrick will take-off
and shine brighter than its gold.
^(1) ^ The Full Research Report on Barrick Gold Corporation - including full
detailed breakdown, analyst ratings and price targets - is available to
download free of charge at: [
Consider National Traders Association
Tired of hearing about the latest, greatest trade opportunity... only to
realize that the ship has long sailed? You need a strong, informative
community in your arsenal. Join the group that has been consistently
identifying momentous situations as they develop -- long before they become
the next top news on major financial networks.
Contact: Contact: Demi Lapierre, Email: press@NationalTradersAssociation.org,
Press spacebar to pause and continue. Press esc to stop.