old stocks climbed sharply Friday morning, driven by a surge in gold prices as investors sought refuge from mounting economic uncertainty. B2Gold Corp. (NYSE: BTG) and Barrick Gold Corporation (NYSE: GOLD) both saw shares rise approximately 6% in early trading. The broader gold market followed suit, posting gains of about 2.3%.
The rally comes as gold prices hit fresh highs, fueled by growing concerns over escalating trade tensions between the United States and China. President Donald Trump’s renewed tariff offensive has rattled financial markets, triggering volatility and prompting a shift toward safe haven assets like gold.
Gold is traditionally viewed as a hedge during times of inflation and currency depreciation. With fears mounting that the latest round of tariffs could stoke inflationary pressures while also dampening global economic growth, investors are increasingly turning to the precious metal as a store of value.
“The fear is twofold,” said one market analyst. “On one hand, tariffs may push up prices, driving inflation higher. On the other, the possibility of a full-blown trade war raises the specter of a global slowdown or even recession. In this kind of environment, gold tends to outperform.”
The US dollar’s recent softness has further boosted gold’s appeal, as the commodity is priced in the US currency. A weaker dollar makes gold cheaper for foreign buyers, adding additional momentum to its recent run-up.
For mining companies like B2Gold and Barrick, the combination of rising gold prices and increasing investor interest spells opportunity. Both companies are poised to benefit from improved margins and heightened demand for their output, contributing to their stock price surges.
As markets brace for continued geopolitical and economic turbulence, all eyes are on gold — and for now, it appears to be glittering once again.
