Gold is ripping higher

There goes gold.

On Monday gold prices were surging, rallying more than 2.5% to nearly $1,200 an ounce — the highest level since October for the yellow metal.

Gold prices are up about 10% this year already as it’s been a terrible year for stocks and other risk assets, with gold — typically viewed as a “safe haven” trade — serving as a beneficiary of this chaos.

On Monday stocks in the US were getting smoked with the Dow off more than 300 points and the Nasdaq down more than 2.4% as tech stocks continue to get hammered.

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