Investors are fleeing to the market's safest assets as coronavirus fears mount

Get the Full StoryBrendan McDermid Reuters

As fears mount that the coronavirus outbreak will become a global pandemic, investors are fleeing to the safest assets on the market.

On Monday, gold surged to its highest value all year. At the same time, the US dollar strengthened against a basket of other currencies.

The 10-year US Treasury yield fell to its lowest since 2016, and the 30-year US Treasury yield is also at a historic record low.

Watch Gold trade live on Markets Insider.

Read more on Business Insider.

As the coronavirus continues to spread, sparking fears of a global pandemic, investors are flocking to the assets that offer the most protection.

Gold surged to 1,676 per ounce on Monday, the highest price for the precious metal all year. At the same time, the US dollar climbed against a basket of other currencies, increasing as much as 0.4 . The 10-year US Treasury yield fell to 1.4 , its lowest level since 2016, while the yield on the 30-year US Treasury bond fell to 1.8 , a historic record low bond yields are inverse to price. See the rest of the story at Business InsiderNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruptionSee Also:A Wall Street firm lists its 5 best hedges for an unusual coronavirus-driven market crash and shares what to do if it's successfully containedMatthew Dent grew his fund's assets by 27 in just one year. He breaks down which company is the 'next Berkshire Hathaway' and shares 4 other top stock picks.BANK OF AMERICA: It's the best time in nearly 40 years to profit from a calm market and these are the 2 best trades to take advantage

Share: