Barrick Says Gold to Remain High on China, India Inflation

Barrick Gold Corp., the world’s largest producer, said prices will remain high as central banks move excessive foreign-exchange holdings to bullion and inflation in China and India boost the lure of the metal.

“Gold is well-supported at current levels,” Gary Halverson, Barrick’s regional Australia-Pacific president, said today at a conference in Kalgoorlie, Western Australia. The Toronto-based company expects to maintain profit margins of more than $1,000 an ounce this year, he said.