The CEO of Barrick Gold Corp. (NYSE: ABX) said last week that Barrick will value its gold reserves at $1,100 an ounce. In its 2012 annual report, the company valued its gold reserves at $1,700 an ounce. Barrick's valuation is cautious, considering that analysts expect miners to calculate the value of gold reserves for 2014 at $1,200 an ounce.