Market Tremors: Barrick Gold Shares Tumble Amid Precious Metals Sell-Off

Barrick Mining CA0679011084

A dramatic reversal in precious metals markets on Friday sent shares of major mining companies sharply lower, with Barrick Gold experiencing significant pressure. The sell-off was triggered by market speculation that former Federal Reserve governor Kevin Warsh could be nominated as the next Chair of the U.S. central bank, a move interpreted by traders as potentially leading to a more independent Fed committed to a longer period of tighter monetary policy. This shift in expectations abruptly undercut the gold price.

The downturn was not isolated to Barrick. Data from Yahoo Finance showed a broad-based retreat across the mining sector on Friday, with several prominent producers registering double-digit percentage losses:

• Newmont Corporation shares fell 11.49%.
• Agnico Eagle Mines declined by 11.61%.
• Kinross Gold dropped 13.77%.
• Coeur Mining saw a decrease of 16.81%.

Market analysts cited the potential Fed leadership change alongside technical factors, including previously overbought conditions in the precious metals complex, as the primary drivers behind the move.

Precious Metals Plunge

The catalyst for the sector's weakness was a violent correction in underlying commodity prices. According to CNBC, the Warsh news prompted a rapid reassessment, with fears of inflation and currency devaluation—key supports for gold—diminishing. This reversal caught a market that had been running hot; earlier in the week, gold had briefly traded above $5,400 per ounce.

Gold futures ultimately settled down 11.4% at $4,745.10 per ounce. Silver experienced an even steeper fall of 31.4%, marking its worst single-day performance since March 1980. The swiftness of the decline was exacerbated by forced liquidations and margin calls affecting highly leveraged positions, accelerating the downward momentum.

Investor Focus Shifts to Upcoming Earnings and Leadership Change

Attention now turns to Barrick Gold's upcoming financial report. The company is scheduled to release its full-year and fourth-quarter 2025 results on Thursday, before the U.S. market opens, followed by a live presentation and Q&A session.

This report will provide crucial context for investors. In its most recent quarterly update (Q3 2025), Barrick reported production of 829,000 ounces of gold and 55,000 tonnes of copper. The company also achieved an operating cash flow of $2.4 billion—a record—and a free cash flow of $1.5 billion.

The earnings release will coincide with a pending leadership transition. The company has announced that Helen Cai will assume the role of Chief Financial Officer, effective March 1. Thursday's report will therefore deliver two key pieces of information: fresh financial data and the initial operating landscape for the incoming CFO.