Gold is spiking

Gold is surging.

Amid a sell off in stocks, the precious metal is spiking, rising more than 1.3% in early trade on Wednesday to nearly $US1,200 an ounce in a classic “risk off” trade.

Bonds were also rallying, with the yield on the US 10-year note falling to 1.86% and the 30-year falling to 2.48%.

Here’s the spike in gold on Wednesday.

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