Barrick Mining beats quarterly profit estimates on bullion price surge
Prices of the precious metal have been consistently touching record highs over the past few quarters, as uncertainty over U.S. President Donald Trump's tariff plans and geopolitical concerns, that could fuel inflation and slow economic growth, raised gold's safe-haven appeal.
Barrick said its average realized gold price for the reported quarter rose to $3,295 per ounce from $2,344 per ounce a year earlier.
On an adjusted basis, the company earned 47 cents per share in the second quarter, compared with analysts' average expectation of 45 cents, according to data compiled by LSEG.
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