Investors are turning to gold as stocks sell off in response to tariffs
President Donald Trump's sweeping tariffs are driving today's market selloff. In times of economic uncertainty, traders usually turn to safe-haven assets such as gold, with prices earlier hitting record highs. This means it's time to check in with mining giants Agnico Eagle Mines Ltd (NYSE:AEM), Barrick Gold Corp (NYSE:GOLD), and Newmont Corporation (NYSE:NEM).
AEM is up 2.6% to trade at $110.33, despite bullion prices being lower at last glance. The security already added 41.2% in 2025, and is fresh off its April 1, all-time high of $158.10. The shares have relied on support from the 40-day moving average since January, which contained earlier losses. Longer term, Agnico Eagle mines stock sports an even healthier 79.1% year-over-year lead.
GOLD was last seen up 1.2% at $19.65, adding to a 26.3% year-to-date lead on its way to a third daily gain in four. The stock has struggled to conquer a ceiling at the $20 level after surging to its highest mark since October last week, but has maintained support at its own 40-day trendline so far this year.
Sporting a 31.4% lead for 2025, NEM is up 0.4% to trade at $48.92 at last check. Despite also hitting its highest level since October last week, the security previously struggled to overcome overhead pressure at the $50 level in March. Both the 20-day moving average and $46 level are providing support for the shares, though.