With the gold price breaking into uncharted territory, S&P/ASX 200 Index (ASX: XJO) gold stocks are shining bright on Friday.

The ASX 200 is currently up a healthy 0.7%.

Here's how these leading ASX 200 gold stocks are performing at the time of writing:

• Northern Star Resources Ltd (ASX: NST) shares are up 2.9%
• Newmont Corp (ASX: NEM) shares are up 4.1%
• Ramelius Resources Ltd(ASX: RMS) shares are up 2.1%
• Gold Road Resources Ltd (ASX: GOR) shares are down 0.6%
• Evolution Mining Ltd (ASX: EVN) shares are up 1.6%
• Perseus Mining Ltd (ASX: PRU) shares are up 1.8%
• De Grey Mining Ltd (ASX: DEG) shares are up 3.3%

Looking at the broader basket of Aussie gold miners, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains some smaller miners outside of the ASX 200 gold stocks – is up 2.8% today.

With the gold price on a tear over the last 12 months, the All Ords Gold Index is now up a whopping 44.5% since this time last year.

Here's what's happening

New record gold price boosts ASX 200 gold stocks

Earlier today, the gold price leapt to a new all-time high of US$2,799.40 per ounce. Bullion has retraced a touch since then, with that same ounce currently worth US$2,797.44.

That's still up around 1.5% since Thursday, and it resets the previous record high notched in late October.

The yellow metal, and ASX 200 gold stocks, look to be catching fresh tailwinds from two fronts.

First, gold is priced in US dollars, and the greenback slid against most major currencies. Though, the Aussie dollar is down 1.4% over the past week, at just 62.1 cents to the US dollar. That's good news for those Australian gold miners with primarily domestic operations, whose costs are largely priced in Australian dollars.

Bullion is also getting a lift from its classic haven status as investors around the world face significant uncertainty over the specific targets and scope of any pending tariffs from US President Donald Trump.

Commenting on the new record-high gold price, Phil Streible, chief market strategist at Blue Line Futures, said (quoted by Bloomberg):

You have the uncertainty of what's going to happen with Trump, with his policies and tariffs and things like that could impact the growth of the United States. When you get rising inflation and you get declining growth, you get stagflation, then gold is one of the best-performing commodities in that environment.

Bullion has surged more than 37% over the last year.