Aug 12 (Reuters) - Canada's Barrick Gold ( GOLD ) edged

past Wall Street estimates for second-quarter profit on Monday,

as the company benefited from higher prices and robust

production.

Barrick's U.S.-listed shares were up 2.1% before

the bell.

Hopes of a U.S. interest rate cut this year and uncertainty

around elections, along with global geopolitical risks have

lifted the bullion's safe-haven appeal, pushing it to a record

high level.

The company's average realized gold prices jumped 19% to

$2,344 per ounce and copper prices rose 22% to $4.53 per pound.

The company also benefited from higher production at its

mines in Nevada and Papua New Guinea, with gold output of

948,000 ounces in the quarter ended June 30, compared to

estimates of 905,800 ounces, according to LSEG data.

Last month, rival Newmont ( NEM ) also beat second-quarter

profit estimates, benefiting from the rally in bullion prices

and robust production at its mines.

Barrick said its free cash flow surged more than 400% to

$340 million from a year earlier, adding that the "strong cash

flow from operations" sets it up to execute various mine

expansion projects across the globe.

The Toronto, Canada-based company reaffirmed its annual

gold production outlook of 3.9 million ounces to 4.3 million

ounces. This compares to analysts expectations of 4 million

ounces of gold in 2024.

Barrick added that it has not received any response from the

United Nations Human Rights Council, after the company addressed

allegations of human rights violations at its North Mara Gold

Mine in June.

On an adjusted basis, the world's second-largest gold miner

posted a profit of 32 cents per share in the April-June quarter,

compared with estimates of 28 cents per share.