The overall CBOE Gold Index rose 1.2 percent, with 10 of its 11 of its component stocks marking gains, most of them modest. Hurting shares was the December gold contract falling 80 cents to $627 an ounce on the New York Mercantile Exchange, snapping two consecutive days of gains.
Shares of Barrick added 2 cents to $30.89 on the New York stock Exchange, as HSBC analyst Victor Flores reiterated an "Overweight" rating and $40 target-price for the stock. Earlier in the session, the shares climbed as high as $31.10.
Barrick on Thursday reported its third-quarter profit nearly tripled. Flores wrote in a research report that excluding special items, the results beat his and the Street's overall expectations. He also said lower production in 2007 by Barrick "does not particularly worry us," as long as profitability is not affected.
Among the index's bigger gainers, Glamis Gold Ltd. added 95 cents, or 2.2 percent, to $44.93 and AngloGold Ashanti Ltd. rose 65 cents to $43.17, both on the NYSE.
