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Barrick says gold is shining high

Barrick Gold, the world’s biggest gold producer, sees potential for record margins in the fourth quarter as gold prices hit new peaks and costs are stable or lower, its chief financial officer said yesterday. “At a gold price now over $1,100, we should be looking at record margins, provided the gold price stays high,” Jamie Sokalsky said. Costs at Barrick have been stabilising, with cash costs forecast at $450-$475 (£270.9) per ounce this year and seen declining next year, he added.