Gandalf's Staff

[The Saucepan Man]

Originally Posted by Kuruharan

However, I cannot imagine the Balrog leaving Moria for any reason whatsoever.

The Ring perhaps?

As a Maia, could he have sensed its presence? Assuming that he was independent of Sauron, the lure would have been great for him. A Balrog could go a long way with the One Ring. And if he was under Sauron's command, then he would almost certainly have been after it.