Gold is having a big day.
The precious metal gained nearly 2%, or about $US22 an ounce, to as high as $US1,188.30 on Wednesday. That’s the highest level in over three months.
This month, gold has rallied more than 5%, and is set for its best month since January according to Bloomberg.
Gold caught a strong bid after the weaker-than-expected September jobs report, as markets broadly went into “risk off” mode.
Here’s a chart showing the rally on Wednesday and this month: