Gold Hits Record High as Investors Flee to Safety; Miner Stocks Surge

Gold Hits Record High as Investors Flee to Safety; Miner Stocks Surge

Key Highlights:

• Gold prices hit a record high as investors flock to safe haven assets amid ongoing tariff-related market volatility.

• Newmont (NEM) surged nearly 5%, making it the top performer in the S&P 500 Thursday.

• Other gold mining stocks also rallied sharply, even as broader U.S. markets pulled back.

Gold prices soared to an all-time high on Thursday, as investors scrambled for safe-haven assets in response to escalating tariff concerns and increased market uncertainty.

The price of gold climbed nearly 4% in afternoon trading, reaching a record $3,193.80 per ounce. The rally also triggered strong gains in mining stocks. Newmont Corporation (NEM) jumped almost 5%, becoming the best-performing stock in the S&P 500 for the day.

Other major gold miners saw impressive gains as well:

• Barrick Gold (GOLD) rose nearly 4%

• Kinross Gold (KGC) advanced 5%

• Gold Fields (GFI) surged over 8%, hitting a new record high

Gold’s historic rally comes as broader equity markets fell sharply, giving back much of Wednesday’s massive gains that followed the temporary easing of U.S. tariffs.

The spike underscores gold's enduring appeal as a safe haven during economic and geopolitical uncertainty, particularly when risk sentiment fades and investors seek more stable ground.