As the safe haven buyer returns and the US dollar falls slowly, gold prices have reached an all-time high since the election of current US president Donald Trump on November 8th, 2016.

Just how high did prices go up? Gold futures in New York — set for delivery in August and the most active contract — reached $1,298.80. This is up more than 1% in heavy volume of more than 24m ounces of the precious metal. So far in 2017, gold is up 12.8%.

The reason for the comeback — gold prices went up to $80 an ounce in less than a month — is suspected to be largely due to the US jobs numbers that was just released on Friday, June 2nd 2017. The report showed the employment rate to still be at 4.3%; about 6.9 million people in the US are unemployed. The release resulted in a weaker US dollar as well as a unclear outlook for GDP growth in the world’s largest economy. In addition, recent geopolitical crises such as the terrorist attacks in the UK as well as the escalating dispute between Saudi Arabia and Qatar are driving more people to invest in a more stable form of money.

Investors continue to use gold to hedge against uncertainties in the market, observed analysts from Canada’s TD Securities. In a note released on Monday, they stated:

Going into a week that contains a testimony by James Comey, an election in the UK, as well as an ECB meeting, there are plenty of reasons for investors to keep gold in their portfolio. Indeed we have seen net positioning grow once again last week as longs continue to build, and shorts likely get squeezed out as gold grinds higher.

Persistent economic weakness, political uncertainty, and a stock market on edge should keep gold well supported at this higher range in the near term. Moving forward the focus will be on the June FOMC meeting to set direction from here. If the Fed maintains their stance that another hike is still in the cards then gold could run out of steam, but should they remain cautious, as we believe they will, gold could move higher and test the $1300/oz level once again.

The rise in prices for gold is a joy for all those who hold gold investments — major gold mining stocks are participating in one of the best trading days in weeks.

The largest mining company in the world, Toronto-based Barrick Gold (TSE:$ABX), saw a 5.2% rise. This allowed the company to land at $19.8 billion in market value in New York. Although it was projected to struggle, Denver-based mining company Newmont (NYSE:$NEM) saw a 4% gain, aiding the company in obtaining a more positive footing for now.

AngloGold Ashanti (NYSE:$AU), third largest gold mining company in terms of output based in South Africa, saw a 7.5% rise, bringing its year-to-date gain to 18%. Other South African mining companies such as Sibanye Gold (NYSE:$SBGL), Harmony Gold (NYSE:$HMY), and Gold Fields (NYSE:$GFI) all saw a gain at more than 6% as well.

Another Toronto-based company, Kinross Gold (NYSE:$KGC), saw a 9.2% rise, putting the company as a top performer amongst all major gold mining companies. Kinross Gold has ownership of mines in the United States and Russia, along with operations in Brazil and West Africa. Its market cap is currently at $5.7 billion.

Other Canadian gold companies also saw rises: Vancouver-based Goldcorp (NYSE:$GG) saw a 4.4% rise, while Agnico-Eagle Mines (NYSE:$AEM) went up by 5% and Eldorado Gold (NYSE:$EGO) gaining 5.9%.. Toronto-based Yamana Gold (NYSE:$AUY) went up 7.4%.

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