Barrick’s Q2 Results Show Why Gold Miners Can Trail Bullion Even at $4,417/oz
Barrick posted a realized gold price of $4,417 per ounce in Q2 2026 and $3,537 million in adjusted gold sales, but attributable free cash flow totaled just $141 million, down 33% year over year. Consolidated all-in sustaining costs of roughly $1,866 per ounce and total consolidated capex of $1,189 million, up 27% year over year, absorbed much of the benefit from higher prices. Operating cash flow was $1,704 million, and the company repurchased $1.2 billion of shares during the quarter. The backdrop remained strong, with the World Gold Council citing a record LBMA PM quarterly average price of $4,873 per ounce in Q1 2026.