Stocks of Newmont and other mining companies saw a significant increase in value on Friday along with a rise in the price of gold amidst economic uncertainty, making it an attractive safe-haven asset for investors.

Gold prices surged over 2% on Friday to a new high of $3,248.20 per ounce, surpassing the previous day's record levels. Newmont's share price soared by nearly 8%, leading the gains on the S&P 500 index as it continued its upward momentum from earlier in the week. Other mining companies such as Barrick Gold, Kinross Gold, and Gold Fields also experienced positive movement in their stock values.

Gold is traditionally seen as a safe-haven investment, and recent weeks have seen increased investor interest in the precious metal due to concerns surrounding President Donald Trump's changing trade policies, causing the price of gold to rise by more than 20% since the beginning of the year.

While some of the major banks like JPMorgan Chase and Wells Fargo reported better-than-expected earnings, they cautioned that the tariffs imposed by President Donald Trump could potentially hinder economic growth. Consequently, the S&P 500 saw a slight decline in recent trading sessions.