Peter Munk built Barrick Gold Corp. into the world’s largest gold producer by expanding into Africa and South America. Now former Goldman Sachs Group Inc. President John Thornton is betting on China to help revive the beleaguered company’s fortunes.
Canadian stocks rose a fourth day, the longest streak in almost six weeks, as industrial companies and energy producers gained after manufacturing from the U.S. to Europe and China expanded more than forecast.
Gold output in Australia, the world’s second-biggest producer, expanded for a second quarter in the period ended September because of higher ore grades, according to mining consultant Surbiton Associates Pty.
Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal.