×

Energy, Materials and More on Barrick Gold

Energy and material stocks leading the market gently lower mid-morning, as a spurt up in the dollar has reversed the gains in silver, gold, copper, and oil.

Speaking of gold: Gold producer Barrick Gold bid for Australian copper producer Equinox has some people wondering whether this is a top in gold.

Barrick gets over 86 percent of its revenues from gold and only 11 percent from copper, so some are arguing Barrick may be signaling that it believes gold prices are frothy and it needs to diversify. Buying Equinox will boost copper's contribution to Barrick's top line from 11 percent to about 22 percent, according to analysts.

_____________________________
Bookmark CNBC Data Pages:

_____________________________

Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani.

Questions? Comments? tradertalk@cnbc.com