BEIJING (AP) – The price of gold surged more than $30 on Monday to over $1,926 per ounce as investors step up buying of the precious metal often sought in times of uncertainty.

Gold was trading at $1,926.20 by early afternoon in Asia, up 1.5%, after surging over the weekend.

Prices for both gold and silver have jumped in recent months as the worsening coronavirus pandemic has shaken confidence in the economic outlook.

Investors often opt to move assets into such traditional “safe havens” to hedge against risks.

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