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Gold Hits Record High and Miner Stocks Surge Amid Tariff Uncertainty
Key Takeaways
The price of gold hit an all-time high Thursday, with shares of Newmont ( NEM ) and other miners surging along with it as investors sought safe haven assets amid tariff-fueled volatility.
The price of gold was up nearly 4% Thursday afternoon to a record $3,193.80 per ounce. Meanwhile, Newmont shares rose close to 5%, making it best-performing stock in the S&P 500 Thursday. Barrick Gold ( GOLD ) shares added nearly 4%, while Kinross Gold ( KGC ) climbed 5%, and Gold Fields ( GFI ) jumped over 8% to close at an all-time high.
Long viewed as a safe haven asset, investors have flocked to gold amid
worries about tariffs
and economic uncertainty. Thursday's rally for gold and miner stocks came as broader markets declined, giving back a significant chunk of Wednesday's historic gains. (Read
Investopedia's
live coverage of
today's market action here
.)
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