Newmont Corporation (NYSE:NEM) stock traded higher Friday as strong gold prices and a board appointment supported sentiment around the gold miner. Nasdaq futures rose 0.76%, while S&P 500 futures gained 0.46%.
Record Gold Prices Support Newmont
Spot gold traded above $4,500 an ounce Friday and headed for a third consecutive weekly gain, according to Trading Economics.
Investors turned to safe-haven assets amid volatility in currency and bond markets. Higher oil prices also fueled inflation concerns and supported demand for gold.
Gold jumped more than 4% Wednesday after the U.S. Treasury Department announced plans to double its long-term debt buybacks. The precious metal held much of those gains despite a reversal in Treasury yields.
