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