Key Takeaways
- The price of gold hit an all-time high Thursday as investors sought safe haven assets amid tariff-fueled volatility.
- Shares of gold mining companies also surged, with Newmont’s gains making it best-performing stock in the S&P 500 Thursday.
- The rally for gold and miner stocks came as broader markets declined, giving back a significant chunk of Wednesday’s historic gains.
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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