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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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