Gold prices are on a roll recently with the yellow metal gaining about 20% in 2 months. After printing the lowest levels since April 2020 last October, gold prices have surged from about $1,600/oz to over $1,900/oz.

Gold prices rally has been fueled by cooling U.S. inflation data, increasing expectations that the Federal Reserve will slow aggressive interest-rate hikes. The rally has also helped gold-linked stocks to advance, such as Barrick Gold (GOLD:US) - the largest producer of gold in the United States and Africa.

Shares of this company are up about 50% since the end of October, helped by surging gold prices and a move higher in U.S. equities after a softer-than-expected wage growth fueled a re-rate higher.

Senator Tommy Tuberville, an active trader of GOLD stock, started to accumulate shares of this gold producer last December after previously selling some shares in March and June 2022. 

Rep. Tuberville disclosed three transactions involving Barrick Gold stock in December, including a $50,000 - $100,000 purchase on December 06, when the stock closed at $16.45 a share. Compared to this day, Barrick Gold stock trades about 20% higher (based on Friday’s closing price). The Senator also reported a $15,000 - $50,000 purchase on December 23.

Besides Senator Tuberville, Congressman Steve Cohen also invested in Barrick Gold in August 2022 after buying $15,000 - $50,000 worth of shares on the day when the stock closed at $15.20.