In wake of Donald Trump win of the US presidential elections, the price of gold surged nearly 4% to $1,316 an ounce, the biggest jump for the yellow metal, which is often seen as one of the world’s safest assets, since the Brexit vote this past summer.

The price of U.S. Treasury bonds are also rising, sending yields lower, in response to Trump win in the presidential elections.

Gold is soaring as investors are overnight bailing out of stocks world wide. 

There’s also been a sell off in the Mexican peso. The market has long seen the Mexican economy as the most vulnerable to a Trump presidency.

Mexico’s economy is dependent on the U.S. and Trump has cutting on pulling back economic ties to the neighboring country. 

A number of economists have also worried that Trump’s economic policies, like imposing tariffs on China and limiting immigration could slow the U.S. economy, and cause prices to surge. 

Gold is often seen as a hedge against inflation.