Gold is surging.
In afternoon trade on Monday, gold futures were up more than 1% to north of $US1,200 after a sharp $US10/ounce rally in just the last few minutes.
Amid the decline in oil and stocks, markets are taking a “risk off” approach to trading on Monday.
In a “risk off” environment, assets like Treasury bonds and gold are would be expected to gain, and on Monday the US 10-year was rallying, with yields falling below 2.25% in afternoon trade, an almost 10 basis point move from Friday’s lows.
Here’s the rally.