Newmont and Other Miner Stocks Pop as Gold Keeps Hitting Record Highs

Shares of Newmont (

NEM

) and other miners surged Friday, while the price of gold climbed to fresh highs as investors flocked to
safe haven
assets amid economic uncertainty.

The price of gold was up over 2% Friday to a record $3,248.20 per ounce, topping highs
set just a day earlier
. Shares of gold miner Newmont jumped nearly 8%, propelling it to lead gains on the
S&P 500
, extending its rally earlier this week. Other miner stocks including Barrick Gold (
GOLD
), Kinross Gold (

KGC

), and Gold Fields (

GFI

) also rose.

Traditionally viewed as a safe haven asset, investors have
piled into gold in recent weeks
as worries about President Donald Trump’s
rapidly shifting trade policies
rattle markets, sending the precious metal’s price up more than 20% since the start of the year.

The S&P 500 was slightly lower in recent trading after some of the
world’s largest banks
, including
JPMorgan Chase
(

JPM

) and
Wells Fargo
(

WFC

), reported better-than-expected earnings but warned President Donald Trump’s tariffs
could slow economic growth
. (Read

Investopedia’s

live coverage of
today’s market action here
.)

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