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Gold spot prices are on track for a fourth consecutive week of gains after hitting a record high of $3,086.04 on Friday morning.
Gold stocks advanced in pre-market trading Friday, defying broader market weakness, as gold prices hit another record high amid escalating trade tensions following President Donald Trump’s latest tariffs on auto imports.
Spot gold rose 0.6% to $3,076.90 an ounce Friday morning after briefly touching an all-time high of $3,086.04. Prices were on track for a fourth consecutive week of gains.
Shares of major gold miners followed suit. Barrick Gold (GOLD) gained 1% pre-market, while Newmont (NEM) and Agnico Eagle Mines (AEM) rose 0.8% and 0.4%, respectively. The SPDR Gold Shares ETF (GLD) climbed 0.6%.
On the cryptocurrency side, tokenized gold tokens collectively gained 1.6% in the past 24 hours, with Tether Gold (XAUT) and Gram Gold (GRAMG) leading the gains, according to CoinGecko.
Trump’s tariffs, set to take effect on April 2, have added to market uncertainty. Meanwhile, reports suggest that potential tariffs on copper imports could be implemented ahead of the 270-day review period Trump outlined in February.
Despite gold’s strength, retail sentiment on Stocktwits weakened for major gold miners.
Retail sentiment around Barrick Gold’s stock inched lower within ‘bearish’ territory.
One user questioned why Wall Street isn’t capitalizing on gold’s gains.
Another user forecast that Barrick Gold’s stock may hit a 52-week high next week, implying a roughly 6.5% upside.
Barrick Gold’s stock has gained 24% in 2025 and is up 25% over the past 12 months.
Retail sentiment around Newmont’s stock also dipped deeper into ‘bearish’ territory.
Newmont, meanwhile, has outperformed Barrick, rising 27% this year and surging 41% over the past year.
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