Gold futures traded above $1400 per ounce Friday, setting the stage for a strong open for gold mining stocks like Newmont Mining (NYSE: NEM) and Barrick Gold (NASDAQ: GOLD).

The rally in gold has come in response to dovish comments from the Fed and other central banks recently. Increased geopolitical risks in the Middle East may also be helping support prices.

The last time gold traded above $1,400 was in 2013.