Gold is surging.

In morning trade on Monday, gold futures were up more than 3%, trading as high as $US1,240 an ounce as stock everywhere were selling off hard.

Gold is seen as a safe haven asset and tends to rise when equity markets sell off and the market takes a “risk off” posture.

Also on Tuesday, safe haven assets like US Treasury bonds were also in rally mode.

Here’s the gold chart.

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