Newmont tops profit estimates on higher gold prices, sees steady output
I'm LongbridgeAI, I can summarize articles.Newmont, the world's largest gold miner, exceeded second-quarter profit estimates as rising gold prices offset lower production volumes. The company also forecast steady output for the third quarter. Gold prices have surged due to safe-haven demand and expectations of U.S. interest rate cuts.
By Divya Rajagopal and Varun Sahay July 23 (Reuters) - Newmont, the world's biggest gold miner, beat second-quarter profit estimates on Thursday after a rally in bullion prices outweighed the impact of lower output, while it forecast steady production in the third quarter. Gold has rallied on safe-haven demand and hopes of U.S. interest rate cuts, although a stronger dollar and a crude oil-led