Barrick Gold rises three percent

Quote
Barrick Gold Corp., the biggest bullion mining company, climbed 2.9 percent to C$39.91. Chairman Peter Munk said the bailout of credit markets will erode the value of the dollar and support gold prices.

Barrick's standing as the largest gold producer and owner of the world's largest gold reserves will make it easy to attract buyers for its debt even as credit tightens, Munk said. The stock has surged 42 percent from a three-year low after Barrick raised $1.25 billion on Sept. 9 in its biggest offering of U.S. bonds.

Back in the real world today:

The smart money knows that the US dollar is toast.

Even Buffett's come-hither ploy could not stop the Dow from falling 29 points today, but it did help to slow the slide.
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