barrick is in that group. thing that is important, that we have to pay attention to, we have pulled back to a important level, the bottom was around 14.5, those of the 2018 highs. this is an important level to pull back to and an area of support to for the long opportunity. near the bottom, head and shoulders formation that carter was showing you, these were some classic signs of downside exhaustion with lower lows for barrick, but not momentum confirming the lows. those re some of the classic signs we see for picking a bottom, or confirmation of a bottom. i took a long position in gold a couple weeks ago and i agreed that there is a further upside, a further move to the upside for any of these gold miners, it is a leveraged play on gold and i like the trade setup of using an in the money debit spread for the exact reason he said, the fact that the breakeven price on the spread is just about 2% higher than where the stock is trading today. he is only risking about 5% of the underlying stock value in order to p

look at barrick gold it's about a 10% weight in the gdx, and the thinking is that this is up and up.s is an all-data monthly chart, essentially, barrick is unchanged from where it was 1990, which, of course, is pretty shocking. independent of that, let's put some lines on, final chart, we have dipped down to a trend line that's been in effect since 2012 we think you get a bounce here just as you've seen the previous two times. >> all right, well, mike, before we get to your barrick gold trade, give us some thoughts of yours on the junior miners here. >> so obviously, i had that junior miner position on we kind of actually pushed on that because basically we really needed it to rally sharply higher than when we initiated the trade and we ended up, you know, with a small profit on that one as it happens, we happen to hold barrick gold in our fund on the long side. the equity and so i'm alongside carter here, because we're long gold, and we're long that particular company. this of course is not one of the junior miners. this is a $28 billion company. what was interesting to me as i was

liz: anytime, mark bristow, ceo of barrick gold.arren buffett's berkshire hathaway came out with numbers over the weekend. they reported a $46.7 billion paper loss in the second quarter largely the result of company's invests, the stock investments losing value. the "oracle of omaha" see the markets drop along with volatile quarter apple, amex, bank of america dragging down his portfolio. buffett still show pack massive $1.54 billion cash pile. which by the way he is the not sure where he will deploy it, parks it in short-term treasuries. short-term treasurys one heck of a large mattress. joining with us a approximately billion dollars in assets under management. therian partners ceo greg. greg, most of us don't have such a big mattress but you feel there is a way to parking cash, what you feel is the long road to the bottom of this volatile market at the moment. where do you put your money? >> absolutely. liz, thank you for having me back. we expect this to be more of a w-shape recovery and investors shut expect to embrace volatili

it continues a trend under the leadership of mark bristol, the cer of barrick gold.of it -- ceo of barrick gold. part of it is tied to the inflationary environment. here is more from an interview. >> it is a convenient excuse to use inflation as the answer to all of our problems. the fact of the matter is we are in a business with the costs go up and down. the way to protect one's business and ensure sustainable profitability is to put the quality of your assets at a point where you can survive the cycles. caroline: it has been great catching up with you today. we will be together all week. from new york, this is bloomberg. ♪ this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's mos

interesting you mentioned barrick, barrick was a result of a business combination a few years ago.ute to say there is discipline that comes from maintaining the course, discipline in maintaining the course. when a business combination makes sense, you should pursue it. guy: what you are saying is, this is about attracting a new investor to the businesses that are aggregating. are there operational effects of what you are doing as well, and do those make the deal look attractive? peter: let me answer that in two parts. in many respects, what we saw as a some positive between the two, -- companies, our weight class punch above the size and scale of the company we are. we saw something similar with gold fields. the result of which, if we bring the two companies together, we create a critical mass of high-quality assets, a high-quality portfolio that continues to punch above its weight class. if we look at the company if it comes amongst the three largest companies in the precious metals space, yet, it has large -- longer mine life, better free clash flow and cash flow conversion from

here's what barrick ceo mark bristo said this morning on "squawk box. >> we don't have enough copper and again, you've seen the copper price come off because it's always short term and what we as miners have to do is look long term and we just don't have the copper to ensure that we can support the vision of being a greener planet into the future >> and it's not just copper. a host of metals are required. and biden has called domestic supply chains a matter of national security. electric vehicles depend on lithium. the u.s. currently only has one lithium mine in operation and just 2.1% of lithium is refined in the u.s. according to benchmark mineral intelligence now, lithium stocks are on the move today albemarle is the biggest lithium america and piedmont >> you think this act changes that >> the main issue is permitting. i actually spoke to albemarle's ceo ken masters. he said okay, great, the initiatives are great, but what we really need help with is permitting and they're hoping to get thei facility up in north carolina running. and their target is 2027 >> wow >> so that is far

here to talk about it is barrick gold president ceo mark bristow.bers this morning slightly better than expected top and bottom lines mark, thanks for joining us. i know everybody wants to talk about gold, but i want the talk about copper first we have a spending package which looks like it's going to pass the house. a lot of money for clean energy. the one thing you need for clean energy is a lot of copper. you need charging stations, utility grids. if we get this done, how long will it be bullish for demand and do we have the copper? >> good morning. you i've hit the nail on the hed we don't have enough copper. it's always short term, and what we have to do is look long term. we don't have the copper to ensure we can support the vision of being a greener planet into the future. >> yeah. and where does the copper -- where's it going to come from, mark do you have the resources? do you have the known reserves of enough copper, or are you going to have to go out and find more in other words, i hate to say it, clean energy takes a lot of mining. >> ex

barrick, you cannot eat them. we don't recommend tobacco companies on this show. it is just way i am. chevron? a premier energy company. general motors, i think they're doing a terrific job. you have a food company, you have a gold company, you have an auto manufacturer and an oil company. what we need here? we should have healthcare, the opposite of this. get some humana and we have a terrific portfolio. next is betsy in california. >> hello, jim, this is betsy from california. my five stocks are hershey, because when the market is crazy, everyone needs chocolate. when the market isn't crazy, everyone needs chocolate. next stop is snow. the next one is unh. the next one is oxley. the last one is alta. >> i like that, it was like chutes and ladders. we have nord stream, i like that. ulta is good. this is a fantastic one. with hershey's, when you like it or not, or whatever, the reasoning is priceless. i food, oil, tech, i have a consumer, and healthcare. this is the most perfect portfolio we have today. i am impressed with every one of our callers and video owners

mark: barrick gold and homestake are now trying to to be done with clean up, to get exemptions from the change the regulatory standards at the site so they can kind of wash their hands of it, hand it over to the department of energy and have it now be the federal government's problem. >> united states regulators can't possibly think this is ok. stephanie: in the meantime, some, including candace head-dylla have agreed to take buyout offers from homestake. candace: we trusted the federal government. we really thought that once they said this is going to be cleaned up, that it would be. stephanie: candace is jonnie's daughter, the woman we met at the beginning of this story. she moved to colorado in 2019. it wasn't an easy decision -- leaving both her parents and her dream house in the murray acres subdivision behind. candace: this is my mom, my two grandmas. this i outside, the barn in the tailings piles right over here. stephanie: the tailings pile was never far from mind, and in 2006, she found her own place on the map of disease. candace: my thyroid is completely removed. i have no th

i like gold barrick and newmont mining. charles: what is the high? 2100. >> 2400 on gold. to 3,000 in two or three years. charles: really? good stuff, my man. good stuff. avatar thing, i'm jealous, kenny. coming up my takeaway on the sacrifices, right, be careful what you wish for. that is all i'm telling you. also the jobs market or jobs report rather is tomorrow and wall street is pretty bullish on it but should they be? douglas holtz-eakin is here to share his expertise right after the break. ♪. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ after switching to the farmer's dog we noticed so many improvements in remi's health. his allergies were going away and he just had amazing energy. it looks like nutritious food, and it is. i'm investing in my dog's health and happiness. get started at longlivedogs.com this is xfinity rewards. i'm our way of showingg's h our appreciation.s. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. charles: so all eyes on

cleaned up and sealed, including this one owned by the homestake mining company, now a subsidiary of barrickd. while operations ended in 1990, the cleanup continues. mark: there are concerns from downstream communities that the plumes of uranium could eventually migrate to their intake wells and contaminate their drinking water sources too. in one household close to the pile, we found levels of radon about almost twice as high as what the epa says is an actual level that you need to pretty immediately clean up your house. stephanie: a 2014 study conducted by the environmental protection agency found an unacceptable level of excess cancer risk from the mill site. john boomer and maggie billiman are among the several thousand residents living downstream. john: i was just thrilled to have all this space. i ought i could put my wood in here, all my art. stephanie: an artist, john needed a big space when he bought the land in 2001, and trusted the epa, which said the site would be cleaned up by 2003. john: the site implied to me, or the way i undetood it was that they were on top of the problem a

the shooter was driving when police say the suspects killed. 33 year-old barrick's ocasio. the shooting happened at the intersection of monterey road in spring avenue. a few blocks from the morgan hill community park. police say castillo was involved in an argument with a group of people before the shooting. it's now legal to possess a used catalytic converter in south san francisco. the city council is trying to make it more difficult for thieves to sell them as the bay area seen an increase in thefts. kron four's amanda hari talk to police about how this could help. >> it's a real problem. it's not just a real problem in south. there was a school. it's a problem with the county. it's a problem it in the state of california as well. >> a problem that's costing victims thousands of dollars. south san francisco police say people are often left paying about $3,000 for places stolen. catalytic converter. but the problem isn't limited to one area. these are photos of converters recovered by san mateo police on august 4th, this security video shows a thief in vallejo literally l

thanks. termer barrick weapons, all other have it. russian military equipment burned and destroyed by ukraine and armed forces and thousands of people in kia are now here may can se in front of the destroy thrush military vehicles. maria, it is clear that you think that ukraine has won the battle. i'm wondering how can you be sure that russia will not win this war? the battle is not over unfortunately for you grain. and we have to be prepared and be prepared for a long war. the people i have been speaking today with the english. i think the heart of keep in mind on square. all of them say that ukraine's goal is to get full territorial control of the temporal occupied territories. and that means that the war is not over for us and they just continue. but what has changed and what does this mean this? so to say, installation or exit bishop of destroyed russian military vehicles in key. what it means for us, your grand, yes, it is the demonstration that they put in the goal. he has put it while he began this invasion on the 24th of february, would not it shift. he did not achieve anythin

a barrick bombs are so powerful they can disintegrate a large part of the surrounding area. it's not clear if these buildings in the village of pesky occupied brazilians have demonstrated across the country in defense of democracy. they're concerned president j bowles merit may not accept october's election result. recent poll show him training behind former president de la de silva, monica, you not get reports from the edition error. the rallies, united brazilians from all ages and walks of life, trade, union leaders and left wing politicians standing side by side with businessman, bankers and students. and i thank you so much. we have created a great front if we want to defend bristles. democracy from president jerbill centers attacks. if this is a unique moment, when businessman and workers join efforts to defend democracy, the main rally was at the university of some balls law school where similar event was held 45 years ago against brazil's military dictatorship crowds gathered inside the building in the courtyard to listen to 2 manifestos, both defending brazil's democ

a barrick bombs is so powerful they can disintegrate a large part of the surrounding area. it's not clear these buildings in the village of pesky where occupied head on al jazeera, the worst is yet to come moraine expected in sudan, masses of homes are destroyed by flash, flash flash. i'm joe hall in edinburgh, where the world famous fringes back from pandemic hibernation, only to confront a brand new crisis. the spiraling cost of performing here, ah, the journey has begun. the. the full world cup is on its way to cat whoop. your travel package to day. hello again. thanks for joining in. here's your world weather update. we're going to begin in india where we had a disturbance move east to west spring in a lot of rain across the top end of india. that's now moving into pakistan. and we've also got this disturbance spinning around on the arabian sea. the 2 are going to come together, a lot of rain to come for sin province on friday, but really top to bottom across pakistan will have some soaking range. that's the scene on friday. let's press plays, who are all of this rain g

a barrick bombs is so powerful they can disintegrate a launch part of the surrounding area. it's not clear these buildings in the village of pesky well occupied. still ahead on al jazeera and israeli medical records extend the detention of slamming yard lead at bassam asada id 6 days. and the worst is yet to come. more rain expected in sudan is thousands of times to destroy i flash flies. ah, he has begun the faithful world copies on its way to cattle group. your travel package to day. hello again. thanks for joining in. here's your world weather update. we're going to begin in india where we had a disturbance move east to west spring in a lot of rain across the top end of india. that's now moving into boxes start. and we've also got this disturbance spinning around on the arabian sea. the 2 are going to come together, a lot of rain to come for sin province on friday, but really top to bottom across pakistan will have some soaking range. that's the scene on friday. let's press plays. who are all of this rain goes. we can see some soaking rains through karachi and on saturday

these pictures showing the buildings in the done yet screech and being destroyed a vacuum, a thermo barrick bombs is so powerful they can disintegrate a large part of the surrounding area. so clear of these buildings in the village of pesky well occupied. thousands of brazilians have taken part in nationwide rallies to show support for demo democratic institutions. it's in response to president variables. now as criticism, countries electronic voting system. so it's been calling into question. the supreme court is concerned, wilson are, it won't recognize the result of october. presidential election is currently trailing former president louis de silva in opinion polls. one again, keith has moved from a demonstration in re edition error, where we are here in rio de janeiro in port key, which is the catholic university. this is just one event mirroring. the main event in the city of san followed there are 20 events all over brazil. and in so far know it's a very symbolic act. you're reading to manifesto defending democracy. this is, i have the last time this happened was in some fall with 19

media, ed pictures showing the destruction of buildings in the don't ask region, vacuum or thermal. barrick bombs are so powerful, they can disintegrate. a large part of the surrounding area. it's not true of these buildings in the village of pesky occupied brazilians have demonstrated in several cities in defense of democracy. they are concerned president j bolts. an error may not accept october's election result. recent polls show him trailing behind former president due to the silver, monica inaccurate reports now from rio de janeiro. oh, the rallies united brazilians from all ages and walks of life, trade, union leaders and left wing politicians standing side by side with businessman, bankers, and students. thank you, belmont. we have created a great front if we want to defend bristles, democracy from president job also, nor is a tax id. this is unique moment when businessman and workers join efforts to defend democracy. the main rally was at the university of so paula's law school where similar event was held 45 years ago against brazil's military dictatorship crowds gathered inside th

heads from here and he raised concerns around newmont mining he's downgrading newmont mining and barrickembrace a more dovish tone and that could support prices from here on out. they say the support level is 1724 to 1745 you can see gold trading at 1760 john. >> okay, so when there is demand, where's it coming from who's buying gold? >> as we've seen over the past couple of years, it's the emerging market countries like china, rrussia, india, even turkey those are the countries that remain big buyers of gold. you've got to wonder if this dollar continues to strengthen, what type of pressure that puts on those countries that continue to buy the yellow metal, john. >> weren't they supposed to be buying bitcoin i thought they would be buying -- no >> i think there's always been this level of interest from a lot of these countries to find other places to put -- to allocate their capital, whether it's gold or another type of alternative currency, there is that type of appetite and interest for sure. >> all right, seema mody, thank you. >>> and that will do it for "the exchange." "power lunch