As US-China tensions spiral upwards, so goes the price of gold.<br />According to Markets Insider, the precious metal closed at its highest level ever for the second consecutive day on Monday.<br />Gold closed the day up 1.8% at $1,931 a troy ounce for contracts for delivery in August.<br />Gold usually fares well during times of economic uncertainty and distress.<br />The US dollar index has also recently fallen to its lowest point since the start of the year.<br />The dollar is considered to be the ultimate haven currency, and a lower dollar has lured investors to gold to maximize returns during the pandemic.<br />Near-zero interest rates and multiple US government stimulus measures have caused gold to appreciate relative to the dollar.
