Was the Balrog drawn by the ring?

[Inziladun]

Originally Posted by Zigûr

It's a good example of why the Istari were cloaked; evidently the Balrog did not innately perceive Gandalf as a danger or it might have confronted him the first time he entered Moria.

Aragorn said he had been in Moria before as well, yet he had no knowledge of the Balrog.