Bill Gates Is Backing This Geothermal Company. -2-

0759 GMT - Gold futures rise on persistent tariff concerns, geopolitical worries and a weaker U.S. dollar. Futures are up 0.1% at $3,379.50 a troy ounce. RBC Capital Markets raises its outlook for gold prices. It hikes its 2025 gold average price expectations by 5% to $3,163/oz and its 2026 average price expectation by 12% to $3,162/oz. The precious metal is gaining on safe-haven demand as geopolitical tensions continue to flare and the uncertain U.S. tariff situation keeps market volatility high. The safe-haven aspect of gold has been further enhanced by the weakening of the U.S. dollar, another asset seen as defensive. Central banks also continue to add to their reserves, albeit at a slower pace in April. ([e-mail])

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London's Mining Stocks Lead FTSE 100 Gainers -- Market Talk

0750 GMT - Mining stocks lead the gains on the FTSE 100 index in early morning trade. The rise reverses Tuesday's fall when they were among the largest fallers after the OECD downgraded its forecast for global economic growth. U.K. investors look eager to shrug off U.S. trade drama, Hargreaves Lansdown's Matt Britzman writes. Meanwhile, gold and base metal prices ticked up in early trade, providing a lift to the stocks. Silver and gold miner Fresnillo traded up 2.6% while Chilean copper miner Antofagasta rose 2.5%. Anglo American and Glencore were both up around 1.9% while Endeavour Mining was up 1.5%.([e-mail])

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Comex Gold Futures May Revert to Consolidation Below $3,400/oz, Chart Shows -- Market Talk

0711 GMT - Comex gold futures may revert to consolidation below $3,400/oz, based on the daily chart, RHB Retail Research's Joseph Chai says in a note. On Tuesday, futures failed to sustain gains above this level and closed with a "bearish candlestick" pattern, the analyst notes. Latest price movements reaffirm the $3,400/oz level is acting as immediate and strong resistance, he says. Futures may resort to sideways movements below $3,400/oz and could retreat toward the 20-day simple moving average. With this resistance level still intact for now, RHB will continue to retain negative trading bias for the precious metal. Spot gold is 0.3% higher at $3,362.43/oz. ([e-mail])

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Merger With Rio Tinto Would Have Multiple Benefits for Glencore Investors -- Market Talk

0509 GMT - There are several ways Glencore shareholders might benefit if the miner pursues a merger with Rio Tinto, say Citi analysts Ephrem Ravi and Paul McTaggart. Glencore would gain exposure to iron-ore earnings, and growth from copper and lithium, they say. That would give it a much bigger pool of marketing options. If Glencore carves off coal assets to marry its metals operations with Rio Tinto's, that metals business could enjoy a rerating, say the analysts. Shareholders would retain exposure separately to the lucrative energy assets. Australian investors could also get fully franked dividends. For Rio Tinto, the main benefit of a tie-up would be diversification away from iron ore, the analysts say. The steel ingredient today accounts for most of Rio Tinto's earnings. ([e-mail]; @RhiannonHoyle)

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Iron Ore Prices Rise, But Volatility Expected in Short Term -- Market Talk

0337 GMT - Iron ore prices rise in Asian trade, with the most actively traded September iron ore contract on the Dalian Commodity Exchange is up 0.9% at CNY701.5 a ton. However, analysts expect short-term volatility. Shipments from Australia have started to fall while those from Brazil have increased sharply, Guangda Futures analysts write in a note. Global iron ore shipments have risen slightly so supply remains solid, they say. However, traders remain unsure about demand and are concerned that China's weak property sector may pressure future appetite, ANZ Research analysts say in a note. ([e-mail]; @ivy_jiahuihuang)

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Copper Edges Lower Amid Demand Concerns -- Market Talk

0107 GMT - Copper edges lower in early Asian trade. Base metals have been under pressure recently amid renewed concerns over weaker demand, ANZ Research analysts say in a note. The outlook for China's economy has softened, after the Caixin manufacturing PMI fell to its lowest level in more than two years, ANZ says. The Caixin survey is more export-oriented compared with the official gauge, suggesting that Chinese companies are still worried about Trump's tariffs despite a 90-day pause, ANZ says. The three-month LME copper contract is 0.2% lower at $9,615.00 a ton. ([e-mail])

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(END) Dow Jones Newswires

06-04-25 0718ET