Gold soars over $50 an ounce to highest finish in a year

Gold futures jumped by more than $50 an ounce to settle at the highest level in about a year on Thursday as investors tried to escape the global market rout by investing in haven assets.

Gold for April delivery GCJ6, -0.48%  jumped $53.20, or 4.5%, to settle at $1,247.80 an ounce after tapping a high of $1,263.90. Prices logged their highest settlement since Feb. 5, 2015. They also saw their largest one-day dollar and percentage gain since Sept. 19, 2013.

Gold’s moves came as equities tanked in Asia and Europe and U.S. stocks moved sharply lower on the back of uncertainty over growth in the global economy.

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